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Real Estate Prices & Overview

Minnesota State University Mankato median real estate price is $251,206, which is less expensive than 75.6% of Minnesota neighborhoods and 66.7% of all U.S. neighborhoods.

The average rental price in Minnesota State University Mankato is currently $1,422, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.4% 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 medium sized (three or four bedroom) to small (studio to two 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 established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Minnesota State University Mankato has a 11.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.8% 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 54.2% 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, one of the really interesting characteristics about the Minnesota State University Mankato neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.3% of college-friendly places to live in the state of Minnesota.

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. 72.7% 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 98.9% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. 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 Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.9% of this neighborhood's residents have Swedish ancestry and 8.8% have Norwegian 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 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 88.8% of U.S. neighborhoods. With 13.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.3% 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 Minnesota State University Mankato neighborhood, 33.2% 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 26.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.0%), and 17.5% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Minnesota State University Mankato neighborhood is English, spoken by 88.4% of households. Some people also speak Spanish (3.2%).

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 (29.6%). There are also a number of people of Norwegian ancestry (8.8%), and residents who report French roots (7.4%), and some of the residents are also of Swedish ancestry (5.9%), along with some Irish ancestry residents (5.5%), among others. In addition, 10.3% of the residents of this neighborhood were born in another country.

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 Minnesota State University Mankato neighborhood spend under 15 minutes commuting one-way to work (72.7% of working residents), one of the shortest commutes across America.

Here most residents (70.7%) 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 (8.5%) and 5.3% 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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