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Real Estate Prices & Overview

Florida Development median real estate price is $334,105, which is more expensive than 81.2% of the neighborhoods in Louisiana and 44.2% of the neighborhoods in the U.S.

The average rental price in Florida Development is currently $1,902, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.1% of the neighborhoods in Louisiana.

Florida Development is a suburban neighborhood (based on population density) located in New Orleans, Louisiana.

Florida Development 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 single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Florida Development 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 1970 and 1999.

In Florida Development, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Florida Development is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

100.0% of the real estate in the Florida Development neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. With a real estate vacancy rate of only 0.0%, the Florida Development neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 62.5% of the residential real estate in the Florida Development neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

Of note is NeighborhoodScout's research finding that the Florida Development neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Florida Development community truly stands out from the rest in this regard.

In addition, the Florida Development neighborhood is unique for having just 0.0% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 100.0% of America's neighborhoods.

Also, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 100.0%. This is a higher percent living alone than we found in 100.0% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Migration / Stability

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. More residents of the Florida Development neighborhood live here today that also were living in this same neighborhood five years ago than is found in 100.0% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

Diversity

Did you know that the Florida Development neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 62.5% of this neighborhood's residents have African ancestry and 62.5% have Sub-Saharan African ancestry.

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 Florida Development 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. 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.

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 Florida Development neighborhood, 0.0% of the working population is employed in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Florida Development 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 Florida Development neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (62.5%). There are also a number of people of African ancestry (62.5%).

Getting to Work

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 Florida Development neighborhood spend longer than one hour commuting one-way to work (0.0% of working residents), one of the longer commutes in America, which is a potential downside for residents of this neighborhood.

Here most residents (0.0%) ride a ferry to get to work. This neighborhood has a very special commuting pattern because ferries provide the most common means of getting to work.


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