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Real Estate Prices & Overview

Minnesota State University Mankato median real estate price is $299,351, which is less expensive than 67.9% of Minnesota neighborhoods and 62.0% of all U.S. neighborhoods.

The average rental price in Minnesota State University Mankato is currently $1,477, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.9% of Minnesota neighborhoods.

Minnesota State University Mankato is an urban neighborhood (based on population density) located in Mankato, Minnesota.

Minnesota State University Mankato 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Minnesota State University Mankato neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Minnesota State University Mankato has a 10.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.9% 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.

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

People

An extraordinary 53.2% of the residents of the Minnesota State University Mankato neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, the Minnesota State University Mankato neighborhood stands out within Minnesota for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.9% of college-friendly places to live in MN.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Minnesota State University Mankato neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Minnesota State University Mankato neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 74.4% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 99.1% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Modes of Transportation

In the Minnesota State University Mankato 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 11.3% of residents here. This is a higher proportion of walking commuters than we found in 95.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!

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 Minnesota State University Mankato neighborhood. In the Minnesota State University Mankato neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% 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 Minnesota State University Mankato neighborhood has more Norwegian and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.7% of this neighborhood's residents have Norwegian ancestry and 7.5% have French 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 Minnesota State University Mankato neighborhood in Mankato are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.0% of U.S. neighborhoods. In addition, 9.1% 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 52.4% 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 Minnesota State University Mankato neighborhood, 31.3% 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 executive, management, and professional occupations, with 26.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (25.8%), and 16.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Minnesota State University Mankato neighborhood is English, spoken by 88.5% of households. Some people also speak Spanish (3.8%).

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 Minnesota State University Mankato neighborhood in Mankato, MN, residents most commonly identify their ethnicity or ancestry as German (33.6%). There are also a number of people of Norwegian ancestry (7.7%), and residents who report English roots (7.6%), and some of the residents are also of French ancestry (7.5%), along with some Irish ancestry residents (6.9%), among others.

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 Minnesota State University Mankato neighborhood spend under 15 minutes commuting one-way to work (74.4% of working residents), one of the shortest commutes across America.

Here most residents (66.7%) 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 (11.3%) and 6.9% 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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