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 Terrace 70122 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Music St New Orleans LA 70122

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The median real estate price in the Gentilly Terrace neighborhood of New Orleans, Louisiana is $201,075, which is more expensive than 81 percent of the neighborhoods in the state and nearly 58 percent of the neighborhoods in the country.

The average rental price in the Gentilly Terrace neighborhood is currently $1,200, and the average rental cost in this neighborhood is higher than over 85 percent of the neighborhoods in Louisiana. Most of the residential real estate is owner occupied.

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

Home and apartment vacancy rates are just under 10 percent in the Gentilly Terrace neighborhood, and this rate is lower than 46 percent of the neighborhoods in the nation, or near the mid-range of vacancies. To learn more about this neighborhood’s vacancy rate and its effect on your home buying or selling options, consult your real estate agent.

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular flair, and why it’s important to learn all you can about the neighborhood you plan to call home.

Your future neighbors in the Gentilly Terrace neighborhood of New Orleans earn middle-class incomes, and this neighborhood has a higher income than over 55 percent of the neighborhoods in the country. 

In the Gentilly Terrace neighborhood, nearly 41 percent of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with almost 24 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at more than 21 percent, and 14 percent in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Culture is shared learning behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture, our learned behavior, comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand. Places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. 

In the Gentilly Terrace neighborhood of New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African at 12 percent, and residents who report French roots at 11 percent. Some of the residents are also of Italian ancestry at over four percent, along with some German ancestry residents at nearly four percent, among others.

The most common language spoken in the Gentilly Terrace neighborhood is English, spoken by well over 96 percent of households, while nearly two percent speaks Japanese.

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LOUISIANA HOME OWNERSHIP TOOLS

Your Home Purchasing or Refinancing & Renovation Tools,

Home Improvements, Home Renovations,

Mortgage Loan Officers, Real Estate Agents & General Contractors

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

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMEPATH RENOVATIONS

Rebuilding the Dream of Home Ownership

Fannie Mae HomePath has No Mortgage Insurance up to 95% LTV

Up to $35K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors are ready to assist you with your home purchase

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.

To print this document, click on “Open in New Window” located at the lower right corner;

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START YOUR PATH TO HOME OWNERSHIP TODAY

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70122 Gentilly Terrace

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