Wallace Ridge, LA Profile: Facts & Data

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Wallace Ridge, Louisiana - Basic Facts

The Wallace Ridge Census Designated Place had a population of 709 as of July 1, 2020. Wallace Ridge ranks in the lower quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Louisiana. See peer rankings below.

The primary coordinate point for Wallace Ridge is located at latitude 31.7096 and longitude -91.8273 in Catahoula Parish. The formal boundaries for the Wallace Ridge Census Designated Place encompass a land area of 7 sq. miles and a water area of 0.46 sq. miles. Catahoula Parish is in the Central time zone (GMT -6). The elevation is 62 feet.

The Wallace Ridge Census Designated Place (GNIS ID: 2586718) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The Wallace Ridge Census Designated Place is located within Parish Governing Authority District 4, a minor civil division (MCD) of Catahoula Parish.


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Wallace Ridge, LA Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 709 (100%)
Population in Households 709 (100.0%)
Population in Families 614 (86.6%)
Population in Group Quarters1 0
Population Density 101
Diversity Index2 12
 
 

INCOME

Median Household Income $46,471
Average Household Income $66,464
% of Income for Mortgage4 8%
Per Capita Income $26,422
Wealth Index5 70
 

HOUSING

Total HU (Housing Units) 310 (100%)
Owner Occupied HU 243 (78.4%)
Renter Occupied HU 39 (12.6%)
Vacant Housing Units 28 ( 9.0%)
Median Home Value $83,242
Average Home Value $122,222
Housing Affordability Index3 350
 

HOUSEHOLDS

Total Households 282
Average Household Size 2.51
Family Households 206
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.01% -0.43%
Households 0.03% -0.43%
Families -0.37% -0.59%
Median Household Income   -1.41%
Per Capita Income   0.52%
Owner Occupied HU   -0.58%

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Wallace Ridge, LA - Peer Comparisons by Rank and Percentile

The table below compares Wallace Ridge to the other 474 incorporated cities, towns and CDPs in Louisiana by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 341 28th
Population Density # 435 8th
Median Household Income # 167 65th
Housing Affordability Index # 465 98th
Per Capita Income # 136 72nd
Diversity Index # 459 3rd

Additional comparisons and rankings can be made with a VERY EASY TO USE Louisiana Census Data Comparison Tool.

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