The Home Buyer's Korner

Information presented should be used for educational purposes only.

May 18th, 2016

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Vieux Carre/French Quarter

The Home Buyer’s Korner

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Barracks St New Orleans LA 70116

Where Home Ownership Happens

The median real estate price in the Vieux Carre/French Quarter neighborhood of New Orleans, Louisiana is slightly less than $458,400, which is more expensive than over 99 percent of the neighborhoods in the state and more than 87 percent of the neighborhoods in the country.

The average rental price in Vieux Carre/French Quarter is currently $1,475 a month, and the average rental cost in this neighborhood is higher than over 95 percent of the neighborhoods in Louisiana. Most of the residential real estate is renter occupied. 

Vieux Carre/French Quarter is an urban neighborhood located in New Orleans, Louisiana, and real estate is primarily made up of small studios to two bedroom to medium sized three or four bedroom multi-family option like condominiums, town homes, and apartments. 

Furthermore, the Vieux Carre/French Quarter 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 over 86 percent 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 country that share this characteristic.

Many of the residences in the Vieux Carre/French Quarter neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier, while a number of residences were built between 1940 and 1969.


Second Home/Vacation Living

Vacant apartments or homes are a fact of life in the Vieux Carre/French Quarter neighborhood and the current real estate vacancy rate here is near 50 percent. This is higher than the rate of vacancies in nearly 99 percent of all neighborhoods in America. A relatively large percentage of housing here is seasonally occupied at almost 27 percent. Despite all of the residential real estate here in the Vieux Carre/French Quarter neighborhood, much of it is vacant. In vacation areas like New Orleans, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. To understand the neighborhood vacancy rate in how it affects your home buying or selling options, consult your real estate agent.

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flair, can make all the difference when choosing the right neighborhood to call home. This neighborhood has some really cool things about the way it looks and feels.

Corner markets on the first floor and apartments above, former Victorian town homes of yesteryear converted into outstanding multi-family units of all kinds, three-deckers built shoulder-to-shoulder, duplexes, these are the homes that  define real estate by neighborhoods dominated by small two, three, and four unit buildings. Many are in older core neighborhoods of New Orleans. If you’re romantic about the look and feel of such neighborhoods, with fresh pizza, any number of boutiques on the corner, then you might find the Vieux Carre/French Quarter neighborhood worth a closer look. This neighborhood is an absolutely outstanding example of the dominance of small two, three, and four unit buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood’s residential real estate. In fact, no less than over 37 percent of the real estate here is made up of such dwellings.


French Quarter Mar 21, 1953

french-quarterIf you find historic homes and neighborhoods attractive, love the details, the history, and the charm, then you are sure to be interested in Vieux Carre/the French Quarter.

A dominant feature throughout the neighborhood is the stunning architecture. Balconies adorned with intricate ironwork, courtyards filled with lush greenery and beautiful fountains showing this neighborhood’s European roots.

The majority of the architectural design is the handiwork of the Spanish who ruled and rebuilt the city after two overwhelming fires in 1788 and 1794. Many buildings don ceramic plaques informing visitors of the street names during Spanish rule such as Calle de Bordon.

With nearly 93 percent of the residential real estate in the French Quarter neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than almost all other neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Today’s French Quarter, which Adrien de Pauger laid out in 1722 (Pauger’s Plat) certainly looks like a rigid Bourg absent of any ambiguity, and in terms of the street layout it was. But as a cityscape, early New Orleans had organic edges. Rear blocks remained forested in the early years, and most actual settlement clustered around the place d’armes and the Mississippi River. The urban fringes were barely distinguishable from the wilderness beyond the fortifications – which themselves were rather desultory, until a century later when new blocks replaced them.

Today, most New Orleanians see those additions – the 100 and 1300 blocks – to be “in” the French Quarter. Yet they were not in the original Bourg, nor were any of the blocks riverside of what’s now Decatur Street, which lay mostly in the river in the 1700s. To add more elasticity to our seemingly rigid grid, the 100 blocks today are outside the jurisdiction of the Vieux Carré Commission, the city agency charged with protecting the historic district, but inside the state-legislated French Quarter Management District. Riverside areas and the 1300 blocks, meanwhile, fall within both jurisdictional footprints. There was a time in the 1950s, when parts of Royal and North Rampart streets were excluded from Commission jurisdiction, only later to be reinstated. So where exactly is New Orleans’ first neighborhood, this epitome of spatial order? And what shall we call it – the Vieux Carré? French Quarter? The Quarter? The one neighborhood comes the closest to having clear boundaries and an official name has, in fact, neither.

faubourg-map-historicalStarting in 1788, New Orleanians developed a new neighborhood nomenclature: faux bourg, or faubourg literally meaning, “false town,” which the Spanish translated it to (you called it) suburbia. The first, Faubourg Ste. Marie was laid out immediately after the Good Friday fire to give New Orleans new living space in what’s now the Central Business District or CBD. Seventeen years passed before another faubourg would come into being, but then they exploded, after Americanization in 1803.

Faubourg development occurred as a free-market response to New Orleans’ burgeoning population and its need for living space, which gave owners of adjacent plantations an opportunity to make more money through urbanization than agriculture. One by one they subdivided, starting with the Faubourg Marigny in 1805. Within the next five years, streets would be laid out (in chronological order by their initial platting) in faubourgs named Delord, Duplantier, La Course, L’Annunciation, Plaisance, St. John, Tremé, Saulet (Solet) and des Religieuses, today’s upper CBD, Lower Garden District, Tremé and Bayou St. John.

It took many more years for these lots to be fully developed; some were used for working or pleasure gardens, or simply remained vacant, for decades. But even as houses arose, new faubourgs appeared downriver in places called Washington, Daunois, Montegut, Clouet, Montreuil, Cariby and deLesseps, in today’s Bywater. Another wave of residential development occurred between 1807-1840s, toward Bayou St. John, with the faubourgs Lafayette, Nouvelle Marigny and Franklin, Livaudais, Carrollton, Bouligny, Hurstville, Delassize, Greenville, Friburg, Bloomingdale, Hagan, Avart, St. Joseph, Rickerville, Burtheville and Delachaise. By the Civil War, most of the Crescent City had been gridded with streets, and faubourgs (suburbia).


Bicycle Routes

The more things change the more things stay the same. Over 45 percent of residents in the Vieux Carre/French Quarter neighborhood still enjoy walking  to work each day, and if you’d like to be able to ride your bike to work you are in good company here in the Vieux Carre/French Quarter neighborhood. We enjoy being on foot in New Orleans, so if you are attracted to the idea of getting a little exercise of the two-wheeled type, while reducing your carbon footprint, bicycling to work might be the answer. Which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. The Vieux Carre/French Quarter neighborhood, it’s a fantastic option, so join the six percent of residents here who ride their bikes to and from work on a daily basis. 

In the Vieux Carre/French Quarter neighborhood, many people’s commutes mean walking from the bedroom to the home office, with 13 percent of residents working from their home. Often people who work from home are engaged in the creative or technological economy. Other times, residents are engaged in businesses like trading stocks from home, or running a small boutique or bodega.

Your future neighbors in the Vieux Carre/French Quarter neighborhood in New Orleans earn upper middle class incomes, and this neighborhood has a higher income than nearly 68 percent of the neighborhoods in America. 

In the Vieux Carre/French Quarter neighborhood, over 63 percent 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 28 percent of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions at over four percent, while an equal amount are in manufacturing and laborer occupations.

Each neighborhood has its own culture derived primarily from the ancestry, 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 ethnicity and ancestry 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 Vieux Carre/French Quarter neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as German at nearly 12 percent. There are also a number of people of French or Irish ancestry at over 10 percent. Some of the residents are also of English ancestry at eight percent, along with some Italian ancestry residents at over four percent, and just under one percent has Austrian ancestry. In addition, over 13 percent of the residents of this neighborhood were born in another country.

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 Vieux Carre/French Quarter neighborhood is English, spoken by more than 86 percent of households, while over six percent speak French.


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Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

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are ready to assist you with your home purchase.

Here are just a few of the home improvements

you might consider with any Home Renovation loan

Repair or replace a roof

Install, replace or repair gutters and downspouts

Replace, repair or upgrade your HVAC system

Repair or replace plumbing

Install, repair or replace electrical systems

Kitchen remodeling (including the purchase and installation of appliances)

Bathroom remodeling, Full interior painting, Total exterior painting

Repair or replace a septic system and/or well

Disability access (wheelchair ramp, elevator, widen doorways)

Build, repair or replace deck, patio or porch

Basement waterproofing and finishing

Abatement/Stabilization of lead-based paint hazards

Replace old windows, Room additions, Finish an attic

Add a second story to your home

Replace a termite damaged sill plate (a water-damaged sill plate also)

Possible landscaping items such as correction of grading & drainage problems,

tree removal, repair a driveway and sidewalks

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Organizing your home shopping experience affords a wise decision-making process.

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