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Real Estate Prices & Overview

Prairie Lake median real estate price is $516,141, which is more expensive than 80.8% of the neighborhoods in Minnesota and 66.8% of the neighborhoods in the U.S.

The average rental price in Prairie Lake is currently $2,371, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.0% of the neighborhoods in Minnesota.

Prairie Lake is a suburban neighborhood (based on population density) located in Lakeville, Minnesota.

Prairie Lake real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Prairie Lake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Prairie Lake are 3.9%, which is lower than one will find in 73.9% of American neighborhoods. Demand for real estate in Prairie Lake 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

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

Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Prairie Lake neighborhood could be your paradise. With 27.4% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 3.9% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Diversity

Did you know that the Prairie Lake neighborhood has more Danish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.3% of this neighborhood's residents have Danish ancestry and 12.6% have Norwegian ancestry.

Prairie Lake is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.9% of the neighborhoods in America.

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 Prairie Lake neighborhood in Lakeville 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 88.1% of the neighborhoods in America. In addition, 3.0% 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 71.3% 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 Prairie Lake neighborhood, 44.5% 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 30.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.2%), and 11.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Prairie Lake neighborhood is English, spoken by 88.0% of households. Some people also speak Spanish (6.3%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Prairie Lake neighborhood in Lakeville, MN, residents most commonly identify their ethnicity or ancestry as German (30.9%). There are also a number of people of Norwegian ancestry (12.6%), and residents who report English roots (11.5%), and some of the residents are also of Irish ancestry (10.7%), along with some Mexican ancestry residents (7.8%), among others. In addition, 10.3% 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 Prairie Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (40.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.0%) 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 (6.8%) . 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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Economics & Demographics include:
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Household Types
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Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
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Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
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