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Real Estate Prices & Overview

Northrop median real estate price is $386,006, which is more expensive than 58.8% of the neighborhoods in Minnesota and 52.4% of the neighborhoods in the U.S.

The average rental price in Northrop is currently $1,576, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.9% of Minnesota neighborhoods.

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

Northrop real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Northrop 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 1940 and 1969.

In Northrop, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Northrop is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

With a real estate vacancy rate of only 0.0%, the Northrop neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Northrop neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 69.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.4% of the neighborhoods in the United States.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Northrop neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.3% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Northrop neighborhood.

Diversity

Did you know that the Northrop neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.7% of this neighborhood's residents have Swedish ancestry and 13.7% have Norwegian ancestry.

Northrop is also pretty special linguistically. Significantly, 2.6% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 99.3% of the neighborhoods in America.

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 Northrop neighborhood in Minneapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 81.9% of the neighborhoods in America. In addition, 0.8% 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 79.3% of America'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 Northrop neighborhood, 59.0% 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 16.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.2%), and 10.2% in clerical, assistant, and tech support 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 Northrop neighborhood is English, spoken by 88.8% of households. Other important languages spoken here include Spanish and Native American languages.

Ethnicity / Ancestry

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 Northrop neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (31.5%). There are also a number of people of Norwegian ancestry (13.7%), and residents who report Irish roots (9.5%), and some of the residents are also of Swedish ancestry (8.7%), along with some English ancestry residents (7.6%), 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 Northrop neighborhood spend between 15 and 30 minutes commuting one-way to work (50.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (61.6%) 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 (5.2%) . 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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