Lake Ridge South median real estate price is $660,283, which is more expensive than 73.8% of the neighborhoods in Virginia and 77.0% of the neighborhoods in the U.S.
The average rental price in Lake Ridge South is currently $4,481, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.8% of the neighborhoods in Virginia.
Lake Ridge South is a suburban neighborhood (based on population density) located in Woodbridge, Virginia.
Lake Ridge South 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 Lake Ridge South neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Lake Ridge South, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Lake Ridge South is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Woodbridge, the Lake Ridge South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real estate in the Lake Ridge South neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.8% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Lake Ridge South neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, most neighborhoods are composed of a mixture of ages of homes, but the Lake Ridge South stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 93.7% of the residential real estate here was built in this one time period.
Furthermore, one way that the Lake Ridge South neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lake Ridge South neighborhood is wealthier than 98.1% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.
In addition, the Lake Ridge South neighborhood stands out within Virginia for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.4% of college-friendly places to live in VA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates, families with school-aged children and highly educated executives.
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Lake Ridge South neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 16.6% of its workforce, this neighborhood has a greater concentration of government workers than 98.0% of U.S. neighborhoods.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Lake Ridge South neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 34.8% of the households here have four, five, or more cars. That is more cars per household than in 96.0% of the neighborhoods in the nation.
Did you know that the Lake Ridge South neighborhood has more Croatian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Croatian ancestry and 3.9% have Arab ancestry.
Lake Ridge South is also pretty special linguistically. Significantly, 0.5% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 95.2% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Lake Ridge South neighborhood in Woodbridge are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.1% of the neighborhoods in America. With 13.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 58.0% of U.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 Lake Ridge South neighborhood, 53.9% 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 21.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (16.6%), and 12.7% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Lake Ridge South neighborhood is English, spoken by 76.8% of households. Some people also speak Spanish (14.7%).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Lake Ridge South neighborhood in Woodbridge, VA, residents most commonly identify their ethnicity or ancestry as English (16.2%). There are also a number of people of Irish ancestry (12.5%), and residents who report German roots (10.2%), and some of the residents are also of Mexican ancestry (8.7%), along with some South American ancestry residents (7.0%), among others. In addition, 17.8% of the residents of this neighborhood were born in another country.
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 Lake Ridge South neighborhood spend between 45 minutes and one hour commuting one-way to work (36.7% of working residents), longer and tougher than most commutes in America.
Here most residents (62.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
