Lake Edina median real estate price is $704,043, which is more expensive than 84.2% of the neighborhoods in Minnesota and 74.2% of the neighborhoods in the U.S.
The average rental price in Lake Edina is currently $2,319, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.6% of the neighborhoods in Minnesota.
Lake Edina is a suburban neighborhood (based on population density) located in Edina, Minnesota.
Lake Edina real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lake Edina neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Lake Edina are 4.1%, which is lower than one will find in 70.1% of American neighborhoods. Demand for real estate in Lake Edina 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
A unique way of commuting is simply not to. And in the Lake Edina neighborhood, analysis shows that 35.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.3% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Lake Edina neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.7% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.4% of all neighborhoods in America.
Did you know that the Lake Edina neighborhood has more Finnish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Finnish ancestry and 9.6% have Norwegian ancestry.
Lake Edina is also pretty special linguistically. Significantly, 8.8% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.0% of the neighborhoods in America.
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 Edina neighborhood in Edina are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 57.5% of the neighborhoods in America. With 25.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 77.3% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Lake Edina neighborhood, 61.2% 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 22.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.8%), and 5.9% in government jobs, whether they are in local, state, or federal positions.
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 Edina neighborhood is English, spoken by 77.1% of households. Other important languages spoken here include Langs. of India, Spanish and French.
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 Edina neighborhood in Edina, MN, residents most commonly identify their ethnicity or ancestry as German (28.3%). There are also a number of people of Asian ancestry (13.3%), and residents who report Irish roots (12.1%), and some of the residents are also of Mexican ancestry (11.8%), along with some Norwegian ancestry residents (9.6%), among others. In addition, 15.7% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Lake Edina neighborhood spend between 15 and 30 minutes commuting one-way to work (53.9% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (9.7%) who commute over an hour in each direction.
Here most residents (58.7%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.