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Real Estate Prices & Overview

Central Minneapolis median real estate price is $243,537, which is less expensive than 77.9% of Minnesota neighborhoods and 70.5% of all U.S. neighborhoods.

The average rental price in Central Minneapolis is currently $1,796, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 44.7% of Minnesota neighborhoods.

Central Minneapolis is a densely urban neighborhood (based on population density) located in Minneapolis, Minnesota.

Central Minneapolis 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Central Minneapolis neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

Central Minneapolis has a 10.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Minneapolis, the Central Minneapolis neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The first thing that you'll notice if you moved to this neighborhood is that an astounding 3.4% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.4% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Central Minneapolis neighborhood should definitely be on your list of places to consider.

In addition, of note, 59.1% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Real Estate

The Central Minneapolis neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 96.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, one of the really unique and interesting things about the look and setting of the Central Minneapolis neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 92.9% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.6% of all neighborhoods in America.

Modes of Transportation

More people in Central Minneapolis choose to walk to work each day (20.2%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Diversity

Did you know that the Central Minneapolis neighborhood has more Swedish and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.5% of this neighborhood's residents have Swedish ancestry and 1.0% have Czechoslovakian ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Central Minneapolis neighborhood in Minneapolis are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 57.1% of the neighborhoods in America. With 59.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.6% 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 Central Minneapolis neighborhood, 68.6% 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 13.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.3%), and 7.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Central Minneapolis neighborhood is English, spoken by 93.9% of households. Some people also speak Langs. of India (2.4%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Central Minneapolis neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (38.9%). There are also a number of people of Irish ancestry (19.6%), and residents who report English roots (12.0%), and some of the residents are also of Polish ancestry (8.3%), along with some Norwegian ancestry residents (7.9%), 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 Central Minneapolis neighborhood spend between 15 and 30 minutes commuting one-way to work (42.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (48.6%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.2%) and 9.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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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