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Real Estate Prices & Overview

Downtown Lafayette median real estate price is $314,365, which is more expensive than 68.8% of the neighborhoods in Louisiana and 40.7% of the neighborhoods in the U.S.

The average rental price in Downtown Lafayette is currently $1,340, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.3% of Louisiana neighborhoods.

Downtown Lafayette is a suburban neighborhood (based on population density) located in Lafayette, Louisiana.

Downtown Lafayette real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Downtown Lafayette neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Downtown Lafayette. The current real estate vacancy rate here is 21.3%. This is higher than the rate of vacancies in 88.3% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Lafayette, the Downtown Lafayette neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

An extraordinary 51.1% of the residents of the Downtown Lafayette neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the Downtown Lafayette neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 85.7% of the neighborhoods in LA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Downtown Lafayette neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.7% of all American neighborhoods.

Modes of Transportation

In the Downtown Lafayette neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 16.6% of residents here. This is a higher proportion of walking commuters than we found in 97.5% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Downtown Lafayette neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 63.7% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 97.2% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the Downtown Lafayette neighborhood has more French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 26.4% of this neighborhood's residents have French ancestry.

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 Downtown Lafayette neighborhood. In the Downtown Lafayette neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Downtown Lafayette neighborhood in Lafayette are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.7% of U.S. neighborhoods. With 13.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.8% 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 Downtown Lafayette neighborhood, 45.4% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 35.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.2%), and 7.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Downtown Lafayette neighborhood is English, spoken by 90.7% of households. Some people also speak Spanish (3.6%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Downtown Lafayette neighborhood in Lafayette, LA, residents most commonly identify their ethnicity or ancestry as French (26.4%). There are also a number of people of German ancestry (10.2%), and residents who report English roots (5.4%), and some of the residents are also of Italian ancestry (4.5%), along with some Asian ancestry residents (3.8%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown Lafayette neighborhood spend under 15 minutes commuting one-way to work (63.7% of working residents), one of the shortest commutes across America.

Here most residents (62.3%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (16.6%) and 8.4% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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