Why Live in Lake Terrace-Oaks
Lake Terrace-Oaks, a suburban neighborhood in New Orleans, is steeped in rich history, having evolved from the once vibrant Milneburg district, a hub for jazz legends like Louis Armstrong and Danny Barker. Located at the end of Elysian Fields Avenue, this area now features mid-century modern and Georgian-style homes in Lake Terrace, and California-style bungalows in Lake Oaks. The neighborhood is part of the Lakeshore area, where boating and fishing are popular pastimes. Residents enjoy proximity to the French Quarter, just 20 minutes away, and City Park, only 10 minutes away, which hosts events like Celebration in the Oaks and houses the Besthoff Sculpture Garden. Local events such as Greek Fest, the Fried Chicken Festival, and Hogs for the Cause offer diverse cultural and culinary experiences. The University of New Orleans, with its 350-acre campus, separates Lake Terrace from Lake Oaks and contributes to the neighborhood's educational landscape. The area is also known for its small, private parks and nearby public parks like London and Lakeshore Parks, as well as the expansive Bayou Sauvage National Wildlife Refuge. With a population of nearly 2,500, Lake Terrace-Oaks is considered one of the best places to live and raise a family in New Orleans. Commuters benefit from shorter travel times compared to the national average, with easy access to major routes like Elysian Fields Avenue, Business 90, Interstate 610, and Interstate 10.
Frequently Asked Questions
Is Lake Terrace-Oaks a good place to live?
Lake Terrace-Oaks is a good place to live, receiving 4.0 stars from its residents. Lake Terrace-Oaks is considered somewhat walkable and bikeable with some transit options. Lake Terrace-Oaks is a suburban neighborhood with a crime score of 2, making it safer than the average neighborhood in the U.S. Lake Terrace-Oaks has 6 parks for recreational activities. It is fairly sparse in population with 3.5 people per acre and a median age of 30. The average household income is $151,498 which is above the national average. College graduates make up 79.5% of residents. A majority of residents in Lake Terrace-Oaks are home owners, with 31.7% of residents renting and 68.3% of residents owning their home. A
local real estate agent serving Lake Terrace-Oaks can help you decide if this neighborhood is the right one for you. Learn more on our
Lake Terrace-Oaks neighborhood guide.
Is Lake Terrace-Oaks, LA a safe neighborhood?
Lake Terrace-Oaks, LA is safer than the average neighborhood in the United States. It received a crime score of 2 out of 10.
How much do you need to make to afford a house in Lake Terrace-Oaks?
The median home price in Lake Terrace-Oaks is $1,199,950. If you put a 20% down payment of $240,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $6,220 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $267K a year to afford the median home price in Lake Terrace-Oaks. The average household income in Lake Terrace-Oaks is $151K.
What are the best private schools in Lake Terrace-Oaks?
The best private schools that serve Lake Terrace-Oaks are:
- Mount Carmel Academy (Girls) has an A Niche grade, a student teacher ratio of 8:1 and an average review score of 4.4.
- Holy Cross School has a B+ Niche grade, a student teacher ratio of 15:1 and an average review score of 4.4.
- St. Pius X School has a student teacher ratio of 16:1 and an average review score of 4.8.
What are the most popular zip codes in Lake Terrace-Oaks, New Orleans, LA?
What are the most popular neighborhoods near Lake Terrace-Oaks, New Orleans, LA?
Home Trends in Lake Terrace-Oaks, LA
On average, homes in Lake Terrace-Oaks, New Orleans sell after 25 days on the market compared to the national average of 70 days. The median sale price for homes in Lake Terrace-Oaks, New Orleans over the last 12 months is $1,199,000, up 103% from the median home sale price over the previous 12 months.
Median Sale Price
$1,199,000
Median Single Family Sale Price
$1,770,000
Median 2 Bedroom Sale Price
$525,000
Median 1 Bedroom Sale Price
$299,000
Average Price Per Sq Ft
$525
Number of Homes for Sale
4
Last 12 months Home Sales
47
Median List Price
$1,199,950
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
103%