Why Live in Oil City
Oil City is a small neighborhood with a rich history tied to its early 1900s oil industry roots, evident in the local museum and oil pumps scattered around Caddo Lake. With a population of approximately 876, the area offers a tranquil lifestyle centered around lakeside living. The neighborhood features a mix of single-family homes, including farmhouses, ranch-style homes, and waterfront properties, all set on spacious lots that blend with the natural wooded scenery. Earl G. Williamson Park, located on Caddo Lake, is a key attraction, providing fishing docks, boat ramps, a beach area, camping, and a playground. The park also hosts the annual Christmas on Caddo event. Dining options include Ma and Pops for comfort food, Meltdowns for soul food, and La Herradura for Mexican cuisine. The Louisiana State Oil and Gas Museum offers insights into the town's industrial past. Oil City hosts various community events, such as an Easter bunny meeting and an Earth Day clean-up. Education is served by Caddo Parish Public Schools, with Herndon Magnet School being highly rated. The neighborhood is about 28 miles from downtown Shreveport, accessible via Interstate 49 South, though public transit is unavailable. For healthcare, North Caddo Medical Center is nearby, and Shreveport Regional Airport is accessible for travel needs.
Frequently Asked Questions
What is the average home price in Oil City, LA?
Homes for sale in Oil City, LA have an average home price of $461,211.
How many homes have sold over the last 12 months in Oil City, LA?
5 homes have sold in Oil City, LA over the last 12 months.
What are the most popular zip codes in Oil City, LA?
How much do you need to make to afford a house in Oil City?
The median home price in Oil City is $240,000. If you put a 20% down payment of $48,000 and had a 30-year fixed mortgage with an interest rate of 6.67%, your estimated principal and interest payment would be $1,240 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $53K a year to afford the median home price in Oil City.
How are the schools in Oil City, LA?
Home Trends in Oil City, LA
On average, homes in Oil City, LA sell after 86 days on the market compared to the national average of 50 days. The median sale price for homes in Oil City, LA over the last 12 months is $143,000, up 120% from the median home sale price over the previous 12 months.
Median Sale Price
$143,000
Median Single Family Sale Price
$240,000
Average Price Per Sq Ft
$140
Number of Homes for Sale
4
Last 12 months Home Sales
5
Median List Price
$240,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
120%