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Real Estate Prices & Overview

Faubourg Marengo / Riverside Galatas median real estate price is $554,274, which is more expensive than 95.4% of the neighborhoods in Louisiana and 70.8% of the neighborhoods in the U.S.

The average rental price in Faubourg Marengo / Riverside Galatas is currently $1,954, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.1% of the neighborhoods in Louisiana.

Faubourg Marengo / Riverside Galatas is a densely urban neighborhood (based on population density) located in New Orleans, Louisiana.

Faubourg Marengo / Riverside Galatas real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Faubourg Marengo / Riverside Galatas 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 1940 and 1969.

Faubourg Marengo / Riverside Galatas has a 14.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.8% 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.

Notable & Unique Neighborhood Characteristics

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.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Faubourg Marengo / Riverside Galatas neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.9% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Faubourg Marengo / Riverside Galatas neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

Real Estate

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 Marengo / Riverside Galatas 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 36.6% of the real estate here is made up of such dwellings, which is higher than 96.4% of all U.S. neighborhoods.

In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Faubourg Marengo / Riverside Galatas neighborhood is one of the most walkable neighborhoods in America.

Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Faubourg Marengo / Riverside Galatas neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 75.6% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.3% of the neighborhoods in the United States.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.2% of residents in the Faubourg Marengo / Riverside Galatas neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.1% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Faubourg Marengo / Riverside Galatas neighborhood has more Portuguese and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Portuguese ancestry and 6.9% have French ancestry.

Faubourg Marengo / Riverside Galatas is also pretty special linguistically. Significantly, 3.5% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 96.2% of the neighborhoods in America.

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 Faubourg Marengo / Riverside Galatas neighborhood in New Orleans are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 86.7% of the neighborhoods in America. With 15.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.5% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Faubourg Marengo / Riverside Galatas neighborhood, 64.7% 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 24.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.6%), and 8.5% in manufacturing and laborer occupations.

Languages

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 Faubourg Marengo / Riverside Galatas neighborhood is English, spoken by 92.5% of households. Other important languages spoken here include French and Polish.

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 Faubourg Marengo / Riverside Galatas neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Irish (12.4%). There are also a number of people of Italian ancestry (11.5%), and residents who report German roots (9.2%), and some of the residents are also of English ancestry (8.3%), along with some French ancestry residents (6.9%), 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 Faubourg Marengo / Riverside Galatas neighborhood spend between 15 and 30 minutes commuting one-way to work (44.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.7%) 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 (10.5%) . 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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