Faubourg Lafitte median real estate price is $480,142, which is more expensive than 92.4% of the neighborhoods in Louisiana and 63.6% of the neighborhoods in the U.S.
The average rental price in Faubourg Lafitte is currently $2,147, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.2% of the neighborhoods in Louisiana.
Faubourg Lafitte is an urban neighborhood (based on population density) located in New Orleans, Louisiana.
Faubourg Lafitte real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Faubourg Lafitte neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Faubourg Lafitte has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Occupations
The Faubourg Lafitte neighborhood has a greater proportion of government workers living in it than 100.0% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
Furthermore, executives, managers and professionals make up 89.9% of the workforce in the Faubourg Lafitte neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Modes of Transportation
More people in Faubourg Lafitte choose to walk to work each day (70.8%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
People
Single parenting is hard. But you don't have to tell the Faubourg Lafitte neighborhood about it; they already know. 36.2% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 99.8% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, of note, 84.6% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
Also, neighborhoodScout's exclusive research revealed that 96.9% of the adult residents in the Faubourg Lafitte neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.3% of the neighborhoods in America.
Real Estate
Renter-occupied real estate is dominant in the Faubourg Lafitte neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Faubourg Lafitte neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 53.9% of the real estate here is made up of such dwellings, which is higher than 98.8% of all U.S. neighborhoods.
Furthermore, homes built from 2000 through today make up a higher proportion of the Faubourg Lafitte neighborhood's real estate landscape than 97.1% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 78.0% of the residential real estate here is classified as newer.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Faubourg Lafitte neighborhood. In the Faubourg Lafitte neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Faubourg Lafitte neighborhood in New Orleans are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. With 84.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.6% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Faubourg Lafitte neighborhood, 89.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 60.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.1%).
Languages
The most common language spoken in the Faubourg Lafitte neighborhood is English, spoken by 100.0% of households.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Faubourg Lafitte neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as English (8.2%).
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Faubourg Lafitte neighborhood spend between 30 and 45 minutes commuting one-way to work (60.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (70.8%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (29.2%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
