Eddie Breaux
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 305-8318
51 Total Sales
1 in Lake Terrace-Oaks
$429,000 Price
Lake Terrace-Oaks
Suburban Neighborhood in New Orleans, Louisiana
Orleans Parish 70122, 70148
Neighborhood Reviews
Today’s Lake Terrace-Oaks, or Lake Terrace/Lake Oaks, suburban neighborhoods were once one of the most popular entertainment spots in New Orleans. Located at the end of Elysian Fields Avenue, this area was home to the famous Milneburg district. Originally a small fishing village along the shores of Lake Pontchartrain, the area was connected to the main city by the Pontchartrain Railroad in 1830, when it had only a few houses, bars, and hotels to offer. But by the time the Smokey Mary train was bringing crowds of visitors in the 1870s, Milneburg had grown into one of the most influential musical neighborhoods in the world.
Jazz greats Danny Barker and Louis Armstrong played here in bars, bandstands and jazz halls like the Joy Club, The Inn and dozens more. The resort area stayed popular through the 1930s, when the city began to reclaim land from the lake. By the 1940s, all traces of Milneburg were washed away save for a lone lighthouse which still stands today.
Lake Terrace originally opened as a sub-division of Gentilly in 1953. Lake Oaks followed shortly after in 1964. Lake Terrace was 93 acres with large lots and mid-century modern and Georgian-style houses. Lake Oaks was smaller and offered smaller lots, with California-style bungalows rarely seen in Louisiana. The median home price for the area is $455,000.
Lake Terrace-Oaks is part of the Lakeshore area where boating and fishing are among the most popular activities. If, however, you’d prefer to be downtown or over at the New Orleans Museum of Art, you’re only 20 minutes away from the French Quarter and 10 minutes away from City Park. The green space offers events like Celebration in the Oaks and places like the Besthoff Sculpture Garden.
Of course, you don’t have to go far to have a good time in Lake Terrace-Oaks. The neighborhood offers events like Greek Fest, the Fried Chicken Festival and Hogs for the Cause. Each of these has their own allure, with Greek Fest boasting incredible food and fun cultural activities. Hogs for the Cause hosts an entire weekend of BBQ deliciousness and fundraising to end pediatric cancer.
Both Lake Terrace and Lake Oaks have small, private parks for residents, but there are plenty of public ones, too. Places like London and Lakeshore Parks give everyone a chance to experience the outdoors just steps from the lakefront. There’s also the nearby Bayou Sauvage National Wildlife Refuge, which features nearly 40,000 acres of forest and marshland with several boardwalk trails throughout the park.
The University of New Orleans separates Lake Terrace from Lake Oaks but is largely self-contained on its 350-acre campus. The college was opened in 1958 and transitioned from a two-year program to a four-year program in 1961. To date, it has graduated more than 80,000 students and shows no signs of stopping.
The neighborhood is home to nearly 2,500 people and sits on land reclaimed from Lake Pontchartrain in the 1920s and ‘30s. The area has a suburban feel and has been rated as one of the best places to live in New Orleans, as well as one of the best neighborhoods to raise a family in the city by Niche.com.
For those who commute from Lake Terrace-Oaks - and that’s a whopping 74% of workers - the travel time is shorter than the national average, meaning you’ll only have a 20-35-minute one-way trip. Luckily, that trip will be made easier by cruising down Elysian Fields Avenue to Business 90, Interstate 610, or Interstate 10.
Photography Contributed By
Mary Drost
Video By
Victoria Sharpe
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Agents Specializing in this Area
-
Eddie Breaux
-
Sara Richards
Sara Richards
Mirambell Realty
(504) 332-4411
42 Total Sales
1 in Lake Terrace-Oaks
$285,000 Price
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Mikey Bowler
Mikey Bowler
Mikey Bowler Realty
(504) 323-7797
66 Total Sales
1 in Lake Terrace-Oaks
$499,900 Price
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MICHAEL LESTER
MICHAEL LESTER
Responds QuicklyKELLER WILLIAMS REALTY 455-0100
(504) 547-6168
88 Total Sales
1 in Lake Terrace-Oaks
$490,000 Price
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John Rareshide
John Rareshide
RE/MAX N.O. Properties
(504) 608-2389
95 Total Sales
1 in Lake Terrace-Oaks
$400,000 Price
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Darlene Gurievsky
Darlene Gurievsky
Responds QuicklyBerkshire Hathaway HomeServices Preferred, REALTOR
(985) 317-2733
314 Total Sales
1 in Lake Terrace-Oaks
$805,000 Price
Schools
Source:
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
- Pre-K to 10th
- Charter
- 8th to 12th
- Private
- 8th to 12th
- Private
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Parks in this Area
Donnelly Playground
- Playground
St John Park
Rome Park
- Playground
- Multi-Purpose Field
Floral Park
- Picnic Area
- Trails
- Multi-Purpose Field
London Park
Lake Terrace Park
Transit
Reviews
Niche Reviews
10/3/2014
Niche Review
Nice people. Friendly. Some items are expensive though. But what isn't in our generation?
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Crime and Safety
| 1 - Low Crime, 10 - High Crime | Lake Terrace-Oaks | US |
|---|---|---|
| Homicide | 3 | 4 |
| Sexual Assault | 2 | 4 |
| Assault with Weapon | 2 | 4 |
| Robbery | 2 | 4 |
| Burglary | 2 | 4 |
| Motor Vehicle Theft | 2 | 4 |
| Larceny | 2 | 4 |
| Crime Score | 2 | 4 |
Source: WhatIsMyCrimeRisk.com
Demographics and Home Trends
On average, homes in Lake Terrace-Oaks, New Orleans sell after 68 days on the market compared to the national average of 47 days. The average sale price for homes in Lake Terrace-Oaks, New Orleans over the last 12 months is $477,017, down 1% from the average home sale price over the previous 12 months.
Home Trends
Median Price (12 Mo)
$470,000
Median Single Family Price
$490,000
Average Price Per Sq Ft
$186
Number of Homes for Sale
16
Last 12 months Home Sales
62
Months of Supply
3.10
Median List Price
$499,000
Median Discount From 1st List Price
3%
Median Home Sale Price YoY Change
1%
Home Facts
Number of Homes in Neighborhood
509
Median Year Built
2019
Avg. Single Family Home Size Sq Ft
2,938
Significantly above the national average
1,935
Median Lot Size Sq Ft
10,890
Open Houses
-
Sunday, Apr 271 - 3pm
Distribution of Home Values
Homes for Sale
Homes for Rent
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Average Home Value
Property Mix - Square Feet
This Neighborhood Has More Owners
Demographics
Total Population
3,286
Median Age
30
Population Density
4 ppl/acre
Population under 18
20.1%
On par with the national average
23.8%
Population over 65
17.4%
On par with the national average
19.1%
Finances
Median Household Income
$126,704
Significantly above the national average
$71,702
Average Household Income
$151,498
Education and Workforce
High School Graduates
99.7%
College Graduates
79.5%
Significantly above the national average
34.1%
Advanced Degrees
43.6%
Significantly above the national average
13.3%
% Population in Labor Force
69.8%
Weather
Annual Precipitation
67''
Average Winter Low Temperature
46°F
Average Summer High Temperature
93°F
Annual Snowfall
0''
Area Factors
Bikeable
Bike Score®
57
/ 100
Somewhat Walkable
Walk Score®
53
/ 100
Some Transit
Transit Score®
41
/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Nearby Neighborhoods
Saint Anthony
Minutes from Lake Pontchartrain, a revived New Orleans residential community
Dillard
A college community that likes to keep it quiet
Fillmore
Quiet, affluent Gentilly suburb bordering City Park
Gentilly Terrace
A vibrant and long-standing neighborhood in Gentilly
Pontchartrain Park
A quiet, laid-back residential community with a strong sense of history
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