Downtown East median real estate price is $750,306, which is more expensive than 90.1% of the neighborhoods in Minnesota and 79.2% of the neighborhoods in the U.S.
The average rental price in Downtown East is currently $3,019, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.8% of the neighborhoods in Minnesota.
Downtown East is a densely urban neighborhood (based on population density) located in Minneapolis, Minnesota.
Downtown East 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 occupied by a mixture of owners and renters. Many of the residences in the Downtown East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Downtown East has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.9% 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.
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 Downtown East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
In a nation where 1 out of every 4 children lives in poverty, the Downtown East neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, of particular note, 8.7% of the people in the Downtown East neighborhood currently reside in a correction facility, held due to punishment for a crime.
Real Estate
One of the really unique and interesting things about the look and setting of the Downtown East neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.8% 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 99.4% of all neighborhoods in America.
In addition, the Downtown East 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 96.3% 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.
Furthermore, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Downtown East neighborhood. A whopping 66.8% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 95.2% of the neighborhoods in the U.S. Everything here just feels new.
Modes of Transportation
In the Downtown East neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 24.6% of residents here. This is a higher proportion of walking commuters than we found in 98.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Downtown East neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.3% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Occupations
Executives, managers and professionals make up 73.1% of the workforce in the Downtown East neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.0% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Downtown East neighborhood. In the Downtown East neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Downtown East neighborhood has more Lebanese and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.4% of this neighborhood's residents have Lebanese ancestry and 1.1% have Finnish ancestry.
Downtown East is also pretty special linguistically. Significantly, 6.6% 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 98.3% of the neighborhoods in America.
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 Downtown East neighborhood in Minneapolis are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 86.3% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Downtown East neighborhood, 73.1% 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 17.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.2%), and 4.5% in manufacturing and laborer occupations.
Languages
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 Downtown East neighborhood is English, spoken by 88.0% of households. Other important languages spoken here include Langs. of India, African languages, Spanish and Polish.
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 Downtown East neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (19.0%). There are also a number of people of English ancestry (9.0%), and residents who report Irish roots (8.2%), and some of the residents are also of Asian ancestry (6.5%), along with some Sub-Saharan African ancestry residents (5.8%), among others. In addition, 14.1% 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 Downtown East neighborhood spend between 15 and 30 minutes commuting one-way to work (45.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (40.9%) 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 (24.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
