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Real Estate Prices & Overview

Lake Ridge median real estate price is $504,994, which is more expensive than 62.6% of the neighborhoods in Virginia and 68.0% of the neighborhoods in the U.S.

The average rental price in Lake Ridge is currently $2,551, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.8% of the neighborhoods in Virginia.

Lake Ridge is a suburban neighborhood (based on population density) located in Woodbridge, Virginia.

Lake Ridge real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) townhomes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Lake Ridge neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Lake Ridge, 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 is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Lake Ridge neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the Lake Ridge 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, 96.0% of the residential real estate here was built in this one time period.

Furthermore, if you love row houses and attached homes, you will probably really like the Lake Ridge neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 53.3% of the residential real estate here is classified as row houses and attached homes.

Modes of Transportation

If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 1.4% of the Lake Ridge neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.2% of America's neighborhoods.

Diversity

Did you know that the Lake Ridge neighborhood has more Romanian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have Romanian ancestry and 3.1% have Portuguese ancestry.

Lake Ridge is also pretty special linguistically. Significantly, 4.7% 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 99.8% of the neighborhoods in America.

The Neighbors

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 neighborhood in Woodbridge are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 81.4% of the neighborhoods in America. In addition, 6.1% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 61.2% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Lake Ridge neighborhood, 50.1% 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 17.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.8%), and 15.8% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Lake Ridge neighborhood is English, spoken by 68.4% of households. Other important languages spoken here include Spanish and Urdu (the national language of Pakistan).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Lake Ridge neighborhood in Woodbridge, VA, residents most commonly identify their ethnicity or ancestry as Asian (12.5%). There are also a number of people of German ancestry (8.9%), and residents who report Irish roots (6.5%), and some of the residents are also of South American ancestry (6.2%), along with some Polish ancestry residents (6.0%), among others. In addition, 25.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 neighborhood spend between 45 minutes and one hour commuting one-way to work (38.3% of working residents), longer and tougher than most commutes in America.

Here most residents (68.7%) 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 (6.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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