Wallace Ridge CDP Louisiana Area Home Supply Charts

This page looks at a variety of Wallace Ridge CDP Louisiana housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Wallace Ridge CDP depicts it has a Housing Units of 390 which is in the mid range of other places in the metro area.

Figure 2 illustrates the housing density in the Wallace Ridge CDP housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Wallace Ridge CDP depicts it has a Housing Density of 55.7 which is the smallest when ranked by housing density of all the other places in the metro area. The place with the highest housing density in the area is Ferriday which shows a density of 1033.2 ( considerably bigger). Comparing housing density to the United States average of 39.5, Wallace Ridge CDP is 40.9% larger. Also, versus the state of Louisiana, housing density of 47.8, Wallace Ridge CDP is 16.6% larger.

In Figure 4, Wallace Ridge CDP area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Wallace Ridge CDP shows it has a Housing Unit Change of 26.6% which is more than all other places in the greater Wallace Ridge CDP region. Comparing change in the housing units to the United States average of 7.4%, Wallace Ridge CDP is approximately 3.6 times bigger. Also, measured against the state of Louisiana, change in the housing units of 5.2%, Wallace Ridge CDP is markedly bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Wallace Ridge CDP depicts it has a Renter Percent of 15.9% which is the second smallest when ranked by renter percent of all the other places in the surrounding region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 84.1% which is the second most owner percent of all the places in the greater Wallace Ridge CDP region.

Wallace Ridge CDP Louisiana Home Cost Charts

Looking at the housing data provided in Figure 7, the average Wallace Ridge CDP home price is illustrated for this community and a useful analysis of affordable housing. Wallace Ridge CDP depicts it has a Median Home Value of $129,300 which is the second most of all the places in the greater region. The place with the highest median home price in the area is Jena which depicts a home price of $150,200 (16.2% larger).

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Wallace Ridge CDP has the percentage of home price worth less than $50,000 the second smallest when ranked by home price worth less than $50,000 of all the other places in the greater region at 16% of the total. Second, it has the largest proportion of home price worth between $50,000 to $100,000 at 69% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Wallace Ridge CDP depicts it has a Median Owner Cost of $817 which is is the uppermost of the places in the greater Wallace Ridge CDP region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Wallace Ridge CDP metro area. it has a Owner Cost as % of HH Income of 12% which is less than most other places in the metro area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Wallace Ridge CDP shows it has a Median Home Value as Percent of Median Earnings of 205% which is less than most other places in the metro area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Wallace Ridge CDP shows it has a Median Owner Costs-With Mortgage of $1,178 which is the second most median housing cost of all the places in the greater Wallace Ridge CDP region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $344 which is the third most median housing cost of all other places in the greater Wallace Ridge CDP region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Wallace Ridge CDP has the percentage of owner cost less than $300 less than most other places in the metro area at 17% of the total. Second, it has the largest proportion of owner cost between $1,500 and $2,000 at 11% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Wallace Ridge CDP depicts it has a % of Income Owner Costs-With Mortgage of 14% which is the second smallest in terms of cost as a percent of household income of all the other places in the metro area. The place with the highest cost as a percent of household income in the area is Ferriday which shows a cost as a percent of household income of 51% (approximately 3.6 times bigger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Wallace Ridge CDP depicts it has a % of Income Owner Costs-No Mortgage of 9% which is the third most cost as a percent of household income of all other places in the greater Wallace Ridge CDP region. The place with the highest cost as a percent of household income in the area is Jonesville which depicts a cost as a percent of household income of 19% (about twice as large).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Wallace Ridge CDP has one of the largest proportions of rent as a percent of income is between 10pct to 20pct at 24% of the total and is ranked #3. Only #2 Jena (24%), and #1 Harrisonburg (33%) are larger. Second, it has the largest proportion of rent as a percent of income is between 20pct to 30pct at 60% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Wallace Ridge CDP has the largest proportion of housing cost between $1,500 and $2,000 at 9% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $375 which is the second most median real estate taxes paid of all the places in the greater Wallace Ridge CDP region. The place with the highest median real estate taxes paid in the area is Jena which depicts a taxes paid of $1,276 (approximately 3.4 times bigger). Comparing median real estate taxes paid to the United States average of $2,690, Wallace Ridge CDP is approximately an eigth the size. Also, compared to the state of Louisiana, median real estate taxes paid of $983, Wallace Ridge CDP is approximately a third the size.

Figure 23 shows the rental rate distribution for this area. Wallace Ridge CDP Louisiana has the largest proportion of rent between 300 and 500 dollars at 84% of the total and is ranked #1.

Wallace Ridge CDP Louisiana Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Wallace Ridge CDP has one of the largest proportions of With mortgage at 43% of the total and is ranked #3. Only #2 Sicily Island (45%), and #1 Jena (55%) are larger. Second, it has the largest proportion of No 2nd Mortgage or HELOC at 9% of the total and is ranked #1. Third, it has the largest proportion of Primary Mortgage and HELOC at 9% of the total and is ranked #1. Also, it has the second smallest in terms of With Mortgage of all the other places in the local area as measured by With HELOC no Primary Mortgage at 48% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Wallace Ridge CDP has the percentage of houses with mortgages the second smallest when sorted by houses with a mortgage of all the other places in the local area at 48% of the total.

Wallace Ridge CDP Louisiana Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.3 which is in the mid point range of other places in the area. The place with the highest family members per housing unit in the area is Ferriday which shows a family members per housing unit of 4.4 (32.1% larger). Comparing family members per housing unit to the United States average of 3.3, Wallace Ridge CDP is about the same size. Also, in comparison with the state of Louisiana, family members per housing unit of 3.4, Wallace Ridge CDP is about the same size.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.9 which is more than all other places in the greater region. Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1980 which is the largest of all places in the greater Wallace Ridge CDP region.

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has the largest proportion of homes built between 2010 to 2019 at 21% of the total and is ranked #1. Second, it has one of the largest proportions of homes built between 2000 to 2009 at 15% of the total and is ranked #3. Only #2 Jena (16%), and #1 Ferriday (17%) are larger. Third, it has the largest proportion of homes built between 1980 to 1989 at 35% of the total and is ranked #1.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units the second smallest as measured by owner-occupied housing units of all the other places in the metro area at 55 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of one unit detached at 6% of the total and is ranked #1. Second, it has one of the largest proportions of 50 or more units at 26% of the total and is ranked #2. The only larger place being Jonesville with 26%.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 1980 to 1989 at $129,700 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 1970 to 1979 at $154,800 of the total and is ranked #1.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. has the smallest proportion of occupied housing units at 11% of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Wallace Ridge CDP residents. it has a Owner-Household Size of 2.9 which is the second most homeowner household size of all the places in the greater Wallace Ridge CDP region. The place with the highest homeowner household size in the area is Sicily Island which depicts a homeowner household size of 3.5 (20.2% larger).

Figure 37 shows the household size for renters. Wallace Ridge CDP depicts it has a Renter-Household Size of 3.0 which is the second most renter household sizes of all the places in the greater Wallace Ridge CDP region. The place with the highest renter household size in the area is Ferriday which depicts a renter household sizes of 3.7 (22.3% larger). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2019 or later at 22% of the total and is ranked #2. The only larger place being Sicily Island with 31%. Second, it has the smallest proportion of owners moved in 2015 to 2018 at 2% of the total. Third, it has the largest proportion of owners moved in 2010 to 2014 at 52% of the total and is ranked #1. Also, it has the second smallest as measured by owners moved in 2019 or later of all the other places in the metro area in order of owners moved in 2000 to 2009 at 6% of the total. In addition, it has the second smallest in order of owners moved in 2019 or later of all the other places in the local area as measured by owners moved in 1990 to 1999 at 18% of the total. Figure 39 shows the year that people who rent moved into the area. Wallace Ridge CDP has the percentage of renters moved in 2019 or later less than most other places in the local area at 20% of the total. Second, it has the second smallest when sorted by renters moved in 2019 or later of all the other places in the metropolitan area as measured by renters moved in 2015 to 2018 at 4% of the total. Third, it has less than most other places in the metropolitan area in order of renters moved in 2010 to 2014 at 1% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2004 which is in the mid range of other places in the metro area. Figure 41 compares the median year that renters moved into their home. Wallace Ridge CDP depicts it has a Renter Median Year Moved In of 2020 which is at the top of all other places in the metropolitan area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has the largest proportion of homes using natural gas at 15% of the total and is ranked #1. Second, it has one of the largest proportions of home using bottled, tank, or lp gas at 56% of the total and is ranked #3. Only #2 Clayton (57%), and #1 Jena (68%) are larger.