University Area median real estate price is $324,213, which is more expensive than 78.2% of the neighborhoods in Louisiana and 42.2% of the neighborhoods in the U.S.
The average rental price in University Area is currently $1,510, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.2% of the neighborhoods in Louisiana.
University Area is a rural neighborhood (based on population density) located in Monroe, Louisiana.
University Area 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 University Area neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in University Area. The current real estate vacancy rate here is 16.1%. This is higher than the rate of vacancies in 82.2% 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.
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 Monroe, the University Area neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
NeighborhoodScout's analysis shows that the University Area neighborhood has a greater concentration of residents currently enrolled in college than 99.2% of the neighborhoods in the U.S. With 46.6% of the population here attending college, this is very much a college-focused neighborhood.
In addition, the University Area neighborhood stands out for having an average per capita income lower than 96.9% of the neighborhoods in the United States.
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 University Area 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 37.7% of the real estate here is made up of such dwellings, which is higher than 96.8% of all U.S. neighborhoods.
In addition, renter-occupied real estate is dominant in the University Area neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.2%, which is higher than 95.1% 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.
Did you know that the University Area neighborhood has more Scots-Irish and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.4% of this neighborhood's residents have Scots-Irish ancestry and 0.9% have Lebanese ancestry.
University Area is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 95.9% of the neighborhoods in America.
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 University Area neighborhood in Monroe are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.9% of U.S. neighborhoods. With 39.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.1% 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 University Area neighborhood, 35.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 31.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.9%), and 12.6% in clerical, assistant, and tech support occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the University Area neighborhood is English, spoken by 87.5% of households. Other important languages spoken here include Spanish and Arabic.
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 University Area neighborhood in Monroe, LA, residents most commonly identify their ethnicity or ancestry as Polish (6.0%). There are also a number of people of Mexican ancestry (4.5%), and residents who report Scots-Irish roots (4.4%), and some of the residents are also of German ancestry (3.8%), along with some Irish ancestry residents (3.6%), among others.
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 University Area neighborhood spend under 15 minutes commuting one-way to work (51.9% of working residents), one of the shortest commutes across America.
Here most residents (81.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (5.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.