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Real Estate Prices & Overview

Wallace Triangle median real estate price is $190,635, which is more expensive than 41.5% of the neighborhoods in Indiana and 20.9% of the neighborhoods in the U.S.

The average rental price in Wallace Triangle is currently $1,171, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 78.7% of Indiana neighborhoods.

Wallace Triangle is an urban neighborhood (based on population density) located in Lafayette, Indiana.

Wallace Triangle real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Wallace Triangle neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Wallace Triangle are 4.8%, which is lower than one will find in 67.9% of American neighborhoods. Demand for real estate in Wallace Triangle is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

The Wallace Triangle neighborhood stands out within Indiana 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 9.3% of college-friendly places to live in IN.

Diversity

Did you know that the Wallace Triangle neighborhood has more Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.4% of this neighborhood's residents have Yugoslav ancestry.

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 Wallace Triangle neighborhood in Lafayette are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 73.9% of U.S. neighborhoods. With 21.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.2% of U.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 Wallace Triangle neighborhood, 42.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 25.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.5%), and 11.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Wallace Triangle neighborhood is English, spoken by 96.6% of households.

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 Wallace Triangle neighborhood in Lafayette, IN, residents most commonly identify their ethnicity or ancestry as German (32.5%). There are also a number of people of English ancestry (14.0%), and residents who report Irish roots (12.9%), and some of the residents are also of French ancestry (5.0%), along with some Polish ancestry residents (4.1%), among others.

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 Wallace Triangle neighborhood spend between 15 and 30 minutes commuting one-way to work (47.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.3%) 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 (8.1%) . 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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