Marginy median real estate price is $514,794, which is more expensive than 92.6% of the neighborhoods in Louisiana and 65.9% of the neighborhoods in the U.S.
The average rental price in Marginy is currently $2,216, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.2% of the neighborhoods in Louisiana.
Marginy is an urban neighborhood (based on population density) located in New Orleans, Louisiana.
Marginy real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Marginy neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Marginy. The current real estate vacancy rate here is 43.5%. This is higher than the rate of vacancies in 98.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (21.8%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in New Orleans, the Marginy neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
The Marginy neighborhood has a greater percentage of children living in poverty (100.0%) than found in 99.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
In addition, one of the most interesting things about the Marginy neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 56.8% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 98.2% of the neighborhoods in America.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Marginy neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.0% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Marginy neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees.
Real Estate
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 of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Marginy neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment 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 61.3% of the real estate here is made up of such dwellings, which is higher than 99.3% of all U.S. neighborhoods.
In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 43.5% of the residential real estate vacant, the Marginy neighborhood claims the distinction of having a higher vacancy rate than 98.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Furthermore, the Marginy 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 82.5% 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 U.S. that share this characteristic.
Also of note, do you watch 'This Old House' on Public Television? 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 Marginy neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 74.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.2% of the neighborhoods in the United States.
Modes of Transportation
In the Marginy neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 35.7% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.9% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, 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. NeighborhoodScout's analysis revealed that the Marginy neighborhood is a fantastic option for bicycle commuters, as 5.1% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.2% of the neighborhoods in America.
Occupations
The Marginy neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.3% of the neighborhoods in America. In fact, 73.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Marginy neighborhood has more Greek and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.5% of this neighborhood's residents have Greek ancestry and 6.1% have Hungarian ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Marginy neighborhood in New Orleans are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.9% of the neighborhoods in America. With 100.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.8% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Marginy neighborhood, 73.9% 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 15.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.7%), and 3.1% in government jobs, whether they are in local, state, or federal positions.
Languages
The most common language spoken in the Marginy neighborhood is English, spoken by 88.9% of households. Some people also speak Spanish (8.4%).
Ethnicity / Ancestry
Culture is shared learned 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. Even different neighborhoods in the same city can have drastically different cultures.
In the Marginy neighborhood in New Orleans, LA, residents most commonly identify their ethnicity or ancestry as English (27.8%). There are also a number of people of Irish ancestry (18.6%), and residents who report Cuban roots (13.1%), and some of the residents are also of German ancestry (12.8%), along with some Italian ancestry residents (11.3%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Marginy neighborhood spend between 15 and 30 minutes commuting one-way to work (57.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (48.8%) drive alone in a private automobile to get to work. In addition, quite a number also bicycle to get to work (5.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
