Central Business District median real estate price is $858,210, which is more expensive than 95.9% of the neighborhoods in Louisiana and 74.2% of the neighborhoods in the U.S.
The average rental price in Central Business District is currently $2,252, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.1% of the neighborhoods in Louisiana.
Central Business District is a suburban neighborhood (based on population density) located in New Orleans, Louisiana.
Central Business District real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Central Business District neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Central Business District. The current real estate vacancy rate here is 41.1%. This is higher than the rate of vacancies in 97.8% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (24.0%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, 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 New Orleans, the Central Business District neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the Central Business District neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the most interesting things about the Central Business District neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 76.7% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.9% of the neighborhoods in America.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 35.5% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 95.0% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
More people in Central Business District choose to walk to work each day (40.0%) 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.
The Central Business District neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.2% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, one of the really unique and interesting things about the look and setting of the Central Business District neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.0% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.8% of all neighborhoods in America.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 41.1% of the residential real estate vacant, the Central Business District neighborhood claims the distinction of having a higher vacancy rate than 97.8% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Executives, managers and professionals make up 77.3% of the workforce in the Central Business District neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
American households most often have a car, and regularly they have two or three. But households in the Central Business District neighborhood buck this trend. 30.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.
Did you know that the Central Business District neighborhood has more African and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.0% of this neighborhood's residents have African ancestry and 2.9% have British ancestry.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Central Business District neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.2% 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 Central Business District neighborhood in New Orleans are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 71.4% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Central Business District neighborhood, 77.3% 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 14.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (4.7%), and 3.3% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Central Business District neighborhood is English, spoken by 90.6% of households. Some people also speak Chinese (3.0%).
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 Central Business District neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Irish (19.0%). There are also a number of people of Sub-Saharan African ancestry (17.0%), and residents who report African roots (17.0%), and some of the residents are also of German ancestry (14.4%), along with some Asian ancestry residents (9.3%), among others. In addition, 10.9% of the residents of this neighborhood were born in another country.
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 Central Business District 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 (40.6%) 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 (40.0%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
