Quick facts: Oak ridge, LA

Quick Facts

98.7
Cost of Living
below US average
117
Population
8.55
Crime Rate per 1000
below US average
$90,625
Median Income
above US average
$119,000
Median House Price
above US average
$1358
Average Rent
below US average
13%
Poverty Rate
above US average
3.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $90,625.

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Income Needed to Buy

βœ“ Affordable
$37k/year
Based on $119,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($90,625) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$58k/year
Based on $1358/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($90,625) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Oak ridge, LA

Oak Ridge is a small town located in Morehouse Parish, Louisiana. Situated within the northeastern region of the state, it is known for its rural charm and close-knit community. The town has a rich history, primarily rooted in agriculture, and it features scenic landscapes typical of the southern U.S., with sprawling fields and nearby water bodies. Oak Ridge's population is modest, providing a quaint, small-town atmosphere. The community is characterized by friendly residents and a variety of local events that strengthen neighborhood ties. It primarily serves as a residential area with basic amenities, making it a peaceful retreat from the hustle and bustle of larger cities. The area around Oak Ridge offers opportunities for outdoor activities, including hunting and fishing, taking advantage of the natural resources found in the bayous and forests of Louisiana. Although small, Oak Ridge is a picturesque example of rural life in Louisiana, ideal for those who appreciate tranquility and a slower pace.

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