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Real Estate Prices & Overview

Lafitte / Treme median real estate price is $509,798, which is more expensive than 94.3% of the neighborhoods in Louisiana and 67.4% of the neighborhoods in the U.S.

The average rental price in Lafitte / Treme is currently $1,401, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.8% of Louisiana neighborhoods.

Lafitte / Treme is an urban neighborhood (based on population density) located in New Orleans, Louisiana.

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

Vacant apartments or homes are a major fact of life in Lafitte / Treme. The current real estate vacancy rate here is 28.5%. This is higher than the rate of vacancies in 94.0% 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

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.

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 11.5% of residents in the Lafitte / Treme neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

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 Lafitte / Treme 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 41.0% of the real estate here is made up of such dwellings, which is higher than 97.3% 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 Lafitte / Treme 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 Lafitte / Treme neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 64.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.5% of the neighborhoods in the United States.

Diversity

Did you know that the Lafitte / Treme neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.2% of this neighborhood's residents have African ancestry and 19.2% 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 Lafitte / Treme 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 89.3% of U.S. neighborhoods. In addition, 6.9% 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 58.8% 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 Lafitte / Treme neighborhood, 52.9% 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 32.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.3%), and 5.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lafitte / Treme neighborhood is English, spoken by 98.2% 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 Lafitte / Treme neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (19.2%). There are also a number of people of African ancestry (18.2%), and residents who report Irish roots (8.8%), and some of the residents are also of Italian ancestry (5.9%), along with some Polish ancestry residents (5.8%), 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 Lafitte / Treme neighborhood spend between 15 and 30 minutes commuting one-way to work (60.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (44.7%) 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 (20.7%) and 11.5% of residents also bicycle 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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