The Home Buyer's Korner

Information presented should be used for educational purposes only.

April 27th, 2016

Guy looking up in color

GREATER NEW ORLEANS, LOUISIANA

Vieux Carre/French Quarter

70112, 70116, & 70130 Neighborhood

The Home Buyer’s Korner

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The median real estate price in the French Quarter/Vieux Carre 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 French Quarter/Vieux Carre 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

French Quarter/Vieux Carre is an urban neighborhood located in New Orleans, Louisiana, and 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 option like condominiums, town homes, and apartments. 

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Furthermore, the French Quarter/Vieux Carre 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 French Quarter/Vieux Carre 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.

House-NOLA

Second Home/Vacation Living

Vacant homes or apartments are a fact of life in the French Quarter/Vieux Carre 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 French Quarter/Vieux Carreneighborhood, 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 option, 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 bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the 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, falafel and an independent florist on the corner, then you might find the French Quarter/Vieux Carre 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 real estate stock. In fact, no less than over 37 percent of the real estate here is made up of such dwellings, which is higher than in almost 96 percent of all neighborhoods in America.

mar-21-1953-french-quarter

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/Vieux Carre 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.

New Orleans’ first faubourg, the Vieux Carre/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 – 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 Mississippi river in the 1700s.

One of the first things that you may notice if you moved to this neighborhood is that over seven percent of the households are same sex couples and an indicator that this neighborhood is likely an LGBT friendly neighborhood. If you are looking for such a neighborhood, the Vieux Carre/French Quarter neighborhood should definitely be on your list of places to consider.

fq-bicycling

Bicycle Routes

The more things change, the more things stay the same. Over 45 percent of residents in the French Quarter/Vieux Carre 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 French Quarter/Vieux Carre 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 French Quarter/Vieux Carre 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 French Quarter/Vieux Carre 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.

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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

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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70112 70116 70130 French Quarter/Vieux Carre

70112 Treme Lafitte French Quarter Poydras St Gravier St Prieur St Treme St Bienville St Burgundy St Perdido St Roman St 1201 Canal St. Union St Canal St Palmyra St Lavender St Saint Louis St Roman St Baronne St Rampart St Derbigny St Cleveland Ave Perdido St Iberville St Prieur St Dauphine St Common St Tulane Ave Iberville St Burgundy St Johnson St Canal St Toulouse St Conti St 433 Burgundy St Banks St Derbigny St St. Claude Ave Johnson St

70116 Faubourg Marigny French Quarter Henriette Delille St Rampart St 1214 North Johnson St. Touro St For Rent ROMAN ST Old Saint Bernard St Touro St Decatur St Bourbon St Urquhart St Burgundy St Gov Nicholls St 1322 Esplanade ave. Esplanade Ave Ursulines Ave Claiborne Ave Dauphine St A P Tureaud Ave Marais St ST LOUIS ST 9 Saint Philip St Ursulines Ave Ursulines Ave 900 Dumaine Magnolia St Frenchman Marais St Rue Saint Philip 1239 N Johnson Saint Peter St 914 St Ann Street New Orleans St Claiborne Ave Rampart St Columbus St 1316 Frenchmen St Touro St Rampart St Johnson Oreilly St Esplanade Ave Prieur St Bayou Rd Onzaga St St. Claude Ave Frenchman St Royal St Saint Philip St 1400 St. Anthony St. Dauphine St Burgundy St ST ANTHONY ST ST LOUIS ST Dabadie St Rampart St Dumaine St Saint Anthony St Governor Nicholls St 916 St Ann Rampart 208 Treme St Villere St Chartres St Lapeyrouse St Kerlerec St 2423 Pauger St Aubry St Burgundy St Rampart St 1301 N Rampart Street French Market Pl Dumaine St ELYSIAN FIELDS AVE Esplanade Ave Pauger St Pauger St Johnson St Old Prieur St Prieur St Saint Ann St Orleans Ave 1224 Bourbon St Saint Anthony St Governor Nicholls St Roman St Burgundy St Robertson St For Sale 2024 Pauger St 1625 St. Anthony St. 1015 Governor Nicholls #3 Annette St Saint Bernard Ave PIRATES ALY Saint Anthony St Derbigny St Gov Nicholls St Saint Philip St Amelia St Allen St Laharpe St Robertson Saint Peter St Robertson St 816 Governor Nicholls St. 919 gov nicholls Frenchmen St Old Roman St Barracks St Saint Claude Ave Prieur St 1029 Barracks Saint Peter St Saint Peter St Burgundy St Madison St

70130 French Quarter Lower Garden District Race St Jackson Ave Rousseau St Common St 2nd St Polymnia St Terpsichore St Chestnut St Camp St Decatur St Bourbon St Clio St 2 1525 Clio St St Charles Ave Union St Clio St Orange St Melpomene St Thalia St Canal St WHITNEY BLDG Port of Orleans Pl Carondelet St 2nd St Annunciation St Annunciation St Camp St Carondelet St Carondelet St Coliseum St Constance St Euterpe St Jackson Ave Jackson Ave Jackson Ave Jackson Ave Magazine St Magazine St Margaret Pl Saint Andrew St Saint Andrew St Saint Mary St Philip St Washington Ave Washington Ave 536 Royal St St Charles Ave Constance St Chippewa St Chippewa St Notre Dame St Richard St 450 John Churchill Chase Prytania St 1805 coliseum st #1 402 Julia Street 812-814 Philip 539 Toulouse St. Tchoupitoulas St 333 julia st. #508 Wilkinson St Jackson Ave Saint James St Peters St Hastings Place # Peters St 3rd St 3rd St 2625 constance Wilkinson St St Charles Ave 1st St Washington Ave 1430 Jackson Avenue Harmony St Poydras St 448 Julia St. Conti St Annunciation St Thalia St Erato St Felicity St Prytania St Laurel St Gravier St 920 Poeyfarre St Royal St Felicity St Lafayette St Philip Diamond St Jackson Ave 610 John Churchill Chase St. Charles Ave Religious St Saint Louis St Exchange Pl Saint Andrew St Philip St Commerce St Jackson Ave 920 Poeyfarre Street Chartres St 920 Poeyfarre St. 1805 Coliseum St. #1 Melpomene St Saint Mary St 1st St Josephine St Chippewa St Laurel St Chippewa St Julia St St Charles Ave 515 226 Decatur Natchez St 516 Conti St 1631-33 Saint Charles Ave Hastings Pl Girod St Magazine St For Sale Bienville St Julia St River Rd Fourth St Carondelet St Commerce St Euterpe St Urania St 1st St Saint Charles Ave Phillip St Sophie Wright Pl 448 Julia Street Celeste St St. Mary 2619 st Thomas street Soraparu St Iberville St John Churchill Chase St 334 Carondelet Street 1818 Carondelet St 2527 Rousseau St Carondelet St -Robert C Blakes Sr Dr Coliseum St 1817 1821 Magazine St Annunciation St Diamond St Saint Joseph StPort  of New Orleans Pl Poeyfarre St Saint Thomas St 425 Notre Dame St 600 Port of New Orleans Place Toulouse St Magazine St Peters St 4th St

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