The Home Buyer's Korner

Information presented should be used for educational purposes only.

April 29th, 2016

Guy looking up in color

GREATER NEW ORLEANS, LOUISIANA

Vieux Carre/French Quarter

Royal St/Governor Nicholls St 70116 Neighborhood

The Home Buyer’s Korner

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BUILDING THE DREAM OF HOME OWNERSHIP

Gov Nicholls St New Orleans LA 70116

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The median real estate price is in the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood of New Orleans, Louisiana is $390,925, which is more expensive than nearly 98 percent of the neighborhoods in the state and almost 83 percent of the neighborhoods in the country.

Average rental prices in this section of the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood are currently just over $1,300, and the average rental cost in this neighborhood is higher than almost 91 percent of the neighborhoods in Louisiana. Most of the residential real estate is occupied by a mixture of owners and renters.

Royal St/Governor Nicholls St (Vieux Carre/French Quarter) 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 multi-family housing option like condominiums, town homes, duplexes, and apartments.

The Royal St/Governor Nicholls St (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 85 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.

Do you watch home improvement shows on TV? 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 Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood stands out on a national scale for the sheer concentration of historic residences it contains at nearly 94 percent of the residential real estate being built before 1939, some much earlier. This is a greater concentration of historic homes than almost any neighborhoods in the country, while a number of residences were built between 1940 and 1969.

Vacant apartments or homes are a fact of life in the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood, and the current real estate vacancy rate here is over 48 percent and this is higher than the rate of vacancies in over 98 of all neighborhoods across the country. A major contributing factor to this neighborhood vacancy rate is due largely to its high seasonal and vacation home occupants. To learn more about this neighborhoods vacancy rate and its effects 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 flair. This particular neighborhood of New Orleans, the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood has some outstanding things about the way it looks and its way of life that are worth highlighting.`

If you are planning to retire in Louisiana, this neighborhood should be on your must-see list. For many reasons, the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood may be considered a retiree’s dream neighborhood. It’s peaceful and quiet, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood retiree-friendly neighborhood.

The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. This neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone at over 62 percent of all residents. 

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, Law degree, a Medical degree, or even a Ph.D. This is certainly the case in the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood, where nearly a third of the residents have earned an advanced degree. Compare that to the average neighborhood in America, where just over eight percent of adults have completed a post-graduate degree. In fact, this neighborhood has a higher rate of adults with an advanced degree than over 95 percent of the neighborhoods in America.

fq-bicycling

Bicycle Routes

Would you like to be able to ride your bike to work? 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. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. The Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood is a fantastic option for bicycle commuters, as six percent of commuters here do ride their bikes to and from work on a daily basis. 

A unique way of commuting is simply not to. In the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood, nearly a quarter of the residents work from home, avoiding a commute altogether. And, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. Over 20 percent of the residents begin their morning walking to work each day.

Despite our love affair with the automobile, those of us who live in New Orleans enjoys taking to the streets, sidewalks, paths, and relaxing in a local courtyard, coffee shop, or bodega, and take in the sights and sounds. Bar none, the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood is one of the most walkable neighborhoods in New Orleans to do that.

The neighbors in the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood in New Orleans earn upper middle class incomes, and this neighborhood has a higher income than nearly 77 percent of the neighborhoods in America. 

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood, over 54 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 at nearly 30 percent of the residents employed. Other residents here are employed in manufacturing and laborer occupations at almost nine percent, and seven 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 ancestry often express those shared learned behaviors and this gives each neighborhood its own culture. 

In the Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood in New Orleans, Louisiana, residents most commonly identify their ethnicity or ancestry as German or Irish at around 14 percent. There are also a number of people of French ancestry  at nearly 13 percent. Some of the residents are also of English ancestry at almost nine percent, along with some Italian ancestry residents at over seven percent, while nearly three percent has Austrian ancestry.

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 Royal St/Governor Nicholls St (Vieux Carre/French Quarter) neighborhood is English, spoken by 79 percent of households, while nearly six percent speak German at home. Other important languages spoken here include French, Native American languages, and Portuguese.

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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

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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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70116 French Quarter/Vieux Carre

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