Carrasco is regarded as one of the most expensive neighborhoods in Montevideo, and features a wide range of architectural styles. Given the concentration of wealth, and the structural poverty that characterizes a significant portion of the nation, the neighborhood is rife with petty crime.
Carrasco residents, given their privileges, tend to be the city's most politically conservative citizens.
Although there are no universities in the area of Carrasco, this neighborhood is home to four of Uruguay's more exclusive prep schools: Stella Maris College (Montevideo), The British Schools, Saint Patrick's College and the Uruguayan American School.