The Home Buyer's Korner

Information presented should be used for educational purposes only.

July 9th, 2016

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GREATER NEW ORLEANS, LOUISIANA

Gentilly

Franklin Ave/Mirabeau Ave Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Venus St New Orleans LA 70122

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The median real estate price in the Franklin Ave/Mirabeau Ave neighborhood of New Orleans is $188,450, which is more expensive than 78 percent of the neighborhoods in the state and 55 percent of all the neighborhoods in the country.

The average rental price in Franklin Ave/Mirabeau Ave is currently $1,125, and the average rental cost in this neighborhood is higher than nearly 79 percent of the neighborhoods in Louisiana. Most of the residential real estate is occupied by a mixture of owners and renters.

Franklin Ave/Mirabeau Ave is an urban neighborhood located in New Orleans, Louisiana and real estate is primarily made up of medium sized three or four bedroom to small studios to two bedroom single-family homes and other multi-family housing options like condominiums, town homes, duplexes, and apartment. Many of the residences in the Franklin Ave/Mirabeau Ave neighborhood are older, well-established, built between 1940 and 1969, while a number of residences were built before 1940.

Vacant homes and apartments are a fact of life in the Franklin Ave/Mirabeau Ave neighborhood and its current real estate vacancy rate is nearly 22 percent. To understand more about this neighborhood’s vacancy rate and its effects on your home buying and 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 a neighborhood to call home. This neighborhood has some really cool things about the way it looks and feels.

One of the really interesting characteristics about the Franklin Ave/Mirabeau Ave neighborhood is that, it is an excellent choice in which to reside for college students, and due to its popularity among college students who already choose to live here, the neighborhood is ideal for prospective kiddie condo buyers and already-enrolled college students looking for possible strategies to reduce your student loan debt with likely real estate appreciation, amortization, and reduced rental cost.

Your future neighbors in the Franklin Ave/Mirabeau Ave neighborhood of  New Orleans earn middle class incomes, and this neighborhood has a higher income than 41 percent of the neighborhoods in America.

In the Franklin Ave/Mirabeau Ave neighborhood, over 33 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 nearly 30 percent of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations at over 21 percent, and nearly 16 percent 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 Franklin Ave/Mirabeau Ave neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African nearly 13 percent. There are also a number of people of French roots at over seven percent, and some of the residents are also of German ancestry at over six percent, along with some Italian ancestry residents at nearly six percent, among others.

The most common language spoken in the Franklin Ave/Mirabeau Ave neighborhood is English, spoken by nearly 93 percent of households, while almost six percent speak Spanish, and over one percent speak Japanese.

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A SIMPLE HOME SHOPPING INSPECTION TOOL

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

This simple home inspection tool makes your ultimate buying decision a smart one.

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