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Real Estate Prices & Overview

The Lakes median real estate price is $651,833, which is more expensive than 93.9% of the neighborhoods in Minnesota and 81.1% of the neighborhoods in the U.S.

The average rental price in The Lakes is currently $2,714, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.5% of the neighborhoods in Minnesota.

The Lakes is a suburban neighborhood (based on population density) located in Blaine, Minnesota.

The Lakes 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 The Lakes neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 6.8% in The Lakes. NeighborhoodScout analysis shows that this rate is lower than 56.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

People

In a nation where 1 out of every 4 children lives in poverty, the The Lakes neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, the The Lakes neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.1% of Minnesota neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

Real Estate

Homes built from 2000 through today make up a higher proportion of the The Lakes neighborhood's real estate landscape than 98.3% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 85.6% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

Diversity

Did you know that the The Lakes neighborhood has more Swedish and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.3% of this neighborhood's residents have Swedish ancestry and 3.3% have Finnish ancestry.

The Lakes is also pretty special linguistically. Significantly, 5.3% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 98.4% 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 The Lakes neighborhood in Blaine 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 93.0% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 The Lakes neighborhood, 59.1% 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 16.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.9%), and 10.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the The Lakes neighborhood is English, spoken by 84.6% of households. Some people also speak Vietnamese (5.3%).

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 The Lakes neighborhood in Blaine, MN, residents most commonly identify their ethnicity or ancestry as German (27.3%). There are also a number of people of Irish ancestry (12.3%), and residents who report Swedish roots (12.3%), and some of the residents are also of Norwegian ancestry (12.2%), along with some Asian ancestry residents (12.0%), among others. In addition, 11.5% 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 The Lakes neighborhood spend between 15 and 30 minutes commuting one-way to work (43.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.6%) 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 (6.2%) . 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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