The Home Buyer's Korner

Information presented should be used for educational purposes only.

August 1st, 2016

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GREATER NEW ORLEANS, LOUISIANA

Central City

Martin Luther King Jr Blvd/Simon Bolivar Ave 70113 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Erato St New Orleans LA 70113

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The median real estate price in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood of New Orleans, Louisiana is $159,200, which is more expensive than over 64 percent of the neighborhoods in the state and nearly 45 percent of the neighborhoods in the country.

The average rental price in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood is currently $700 a month, and rents here are currently lower in price than almost 81 percent of all the neighborhoods in Louisiana. Most of the residential real estate is renter occupied. Renter-occupied real estate is so dominant in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood that nearly 90 percent of all residents are classified as such. 

Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) area is an urban neighborhood located in New Orleans, Louisiana, and the real estate is primarily made up of small studios and two bedroom to medium sized three or four bedroom single-family homes, and other multi-family housing options like condominiums, town homes, duplexes, and apartments.  

Many of the residences in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood are older, well-established, built between 1940 and 1969, while a number of residences were built between 2000 and the present.

Vacant homes or apartments are a major fact of life in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood, and the current real estate vacancy rate here is nearly 19 percent. To understand 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. 

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. In this neighborhood, above nearly every neighborhood in the country nearly 68 percent of its residents living alone. This is a higher percent living alone than we found in nearly any other neighborhood nationwide.

Also, the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood is unique for having less that 1 percent of adults earning at least a bachelor’s degree, and the neighborhood has a lower rate of college graduates than found in 99 percent of any other neighborhood in America.

Your future neighbors in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood in New Orleans earn modest incomes, and this neighborhood has an income lower than nearly all others nationwide. 

From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of the New Orleans employment picture. In the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood, over 65 percent of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with over 19 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at nearly 11 percent, and over four percent in clerical, assistant, and tech support occupations.

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 learning behaviors and this gives each neighborhood its own culture. 

In the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood of New Orleans, LA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African at over 14 percent. There are also a number of people of English roots at more than three percent, and some of the residents are also of French ancestry at more than one percent.

The most common language spoken in the Martin Luther King Jr Blvd/Simon Bolivar Ave (Central City) neighborhood is English, spoken by nearly 93 percent of households, while seven percent speak Spanish.

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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.

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70113 Central City

70113 Central City North Street Josephine St Philip St Lafayette St Terpsichore St Danneel Street # Robertson St Lasalle St 2215 Felicity Street Baronne St Oretha C Haley Blvd Clara St Washington Ave Baronne St Euterpe St St. Andrew St 1st St 2725 Philp St 1st St Saint Andrew St Freret St Lafayette St Lafayette St ST CHARLES AVE Dryades St 712 Salcedo Julia St Danneel St Saratoga St Julia St 1737-39 First St. Simon Bolivar Ave Thalia St 2619 Danneel Street Jackson Ave Felicity St Liberty St Willow St Danneel 2125 Josephine St Okeefe Ave Martin Luther King Jr Blvd 2nd St Erato St Loyola Ave 3rd St Washington Brainard St Rampart St Girod St 4th St Magnolia St Saint Joseph St Clio St Robertson St

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