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Real Estate Prices & Overview

Chanhassen West median real estate price is $834,793, which is more expensive than 98.8% of the neighborhoods in Minnesota and 89.6% of the neighborhoods in the U.S.

The average rental price in Chanhassen West is currently $2,754, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.8% of the neighborhoods in Minnesota.

Chanhassen West is a suburban neighborhood (based on population density) located in Chanhassen, Minnesota.

Chanhassen West real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Chanhassen West 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.

In Chanhassen West, the current vacancy rate is 3.0%, which is a lower rate of vacancies than 81.5% of all neighborhoods in the U.S. This means that the housing supply in Chanhassen West is very tight compared to the demand for property here.

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

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.3% of America's neighborhoods are wealthier than the Chanhassen West neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Chanhassen West also has one of the lowest ratings of child poverty in the nation.

In addition, according to NeighborhoodScout's exclusive analysis, Chanhassen West is among the best neighborhoods for families in Minnesota. In fact, this neighborhood is more family-friendly than 99.9% of neighborhoods in the entire state of Minnesota. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Chanhassen West neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives and urban sophisticates.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 72.8% of the adults living in the Chanhassen West neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 95.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Real Estate

One way that the Chanhassen West neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.6% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, real estate in the Chanhassen West neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.5% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Furthermore, the Chanhassen West neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 98.9% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 97.3% of all neighborhoods in America.

Diversity

Did you know that the Chanhassen West neighborhood has more Norwegian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.6% of this neighborhood's residents have Norwegian ancestry and 2.0% have Finnish 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 Chanhassen West neighborhood in Chanhassen 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 96.7% 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.

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 Chanhassen West neighborhood, 60.9% 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 22.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.6%), and 7.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Chanhassen West neighborhood is English, spoken by 93.7% of households. Some people also speak Spanish (2.6%).

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 Chanhassen West neighborhood in Chanhassen, MN, residents most commonly identify their ethnicity or ancestry as German (30.0%). There are also a number of people of English ancestry (19.8%), and residents who report Norwegian roots (16.6%), and some of the residents are also of Irish ancestry (12.7%), along with some Asian ancestry residents (5.7%), 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 Chanhassen West neighborhood spend between 15 and 30 minutes commuting one-way to work (39.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.3%) drive alone in a private automobile to get to work. 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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