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Real Estate Prices & Overview

McKinley median real estate price is $201,281, which is less expensive than 87.2% of Minnesota neighborhoods and 78.5% of all U.S. neighborhoods.

The average rental price in McKinley is currently $1,912, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.0% of the neighborhoods in Minnesota.

McKinley is an urban neighborhood (based on population density) located in Minneapolis, Minnesota.

McKinley real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the McKinley neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.

Real estate vacancies in McKinley are 5.4%, which is lower than one will find in 63.7% of American neighborhoods. Demand for real estate in McKinley 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

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 McKinley neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (15.1% ride the bus) than 97.4% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Also, our research shows that more people carpool to work here in the McKinley (22.2%) than in 95.2% of the neighborhoods in America.

Real Estate

If you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 61.1% of the residential real estate in the McKinley neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the McKinley neighborhood has more South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.9% of this neighborhood's residents have South American 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 McKinley neighborhood in Minneapolis are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 60.2% of U.S. neighborhoods. With 18.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.9% 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 McKinley neighborhood, 33.6% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 28.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (26.1%), and 11.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the McKinley neighborhood is English, spoken by 68.2% of households. Some people also speak Spanish (10.1%).

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 McKinley neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as Asian (18.4%). There are also a number of people of German ancestry (8.3%), and residents who report South American roots (7.9%), and some of the residents are also of Sub-Saharan African ancestry (5.8%), along with some Mexican ancestry residents (3.1%), among others. In addition, 18.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 McKinley neighborhood spend between 15 and 30 minutes commuting one-way to work (59.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.3%) 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 (22.2%) and 15.1% of residents also ride the bus 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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