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Real Estate Prices & Overview

Magnolia Park median real estate price is $453,924, which is more expensive than 90.4% of the neighborhoods in Louisiana and 60.4% of the neighborhoods in the U.S.

The average rental price in Magnolia Park is currently $1,874, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.2% of the neighborhoods in Louisiana.

Magnolia Park is a suburban neighborhood (based on population density) located in Lafayette, Louisiana.

Magnolia Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Magnolia Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Magnolia Park are 5.8%, which is lower than one will find in 61.3% of American neighborhoods. Demand for real estate in Magnolia Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

In a nation where 1 out of every 4 children lives in poverty, the Magnolia Park neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, a majority of the adults in the Magnolia Park neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Louisiana by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.3% of the neighborhoods in Louisiana. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 80.6% of the adults living in the Magnolia Park neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Real Estate

Some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Magnolia Park neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 96.6% of all American neighborhoods.

Diversity

Did you know that the Magnolia Park neighborhood has more French Canadian and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.7% of this neighborhood's residents have French Canadian ancestry and 22.1% have French ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Magnolia Park neighborhood in Lafayette are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 83.3% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Magnolia Park neighborhood, 62.5% 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 20.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.2%), and 6.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Magnolia Park neighborhood is English, spoken by 98.0% of households. Some people also speak Italian (2.8%).

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 Magnolia Park neighborhood in Lafayette, LA, residents most commonly identify their ethnicity or ancestry as French (22.1%). There are also a number of people of French Canadian ancestry (15.7%), and residents who report English roots (13.5%), and some of the residents are also of German ancestry (10.3%), along with some Irish ancestry residents (9.3%), among others.

Getting to Work

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 Magnolia Park neighborhood spend under 15 minutes commuting one-way to work (52.1% of working residents), one of the shortest commutes across America.

Here most residents (88.4%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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