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Real Estate Prices & Overview

Elk River West median real estate price is $404,181, which is more expensive than 70.5% of the neighborhoods in Minnesota and 60.8% of the neighborhoods in the U.S.

The average rental price in Elk River West is currently $1,835, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.9% of Minnesota neighborhoods.

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

Elk River West real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Elk River 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 Elk River West, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 89.5% of all neighborhoods in the U.S. This means that the housing supply in Elk River 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 Elk River, the Elk River West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Elk River West neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 9.3% of family-friendly neighborhoods in the state of Minnesota. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools.

Diversity

Did you know that the Elk River West neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.3% of this neighborhood's residents have Swedish ancestry and 19.7% 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 Elk River West neighborhood in Elk River 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 89.8% of the neighborhoods in America. In addition, 4.4% 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 67.1% 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 Elk River West neighborhood, 45.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 23.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.9%), and 13.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Elk River West neighborhood is English, spoken by 97.6% of households.

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 Elk River West neighborhood in Elk River, MN, residents most commonly identify their ethnicity or ancestry as German (32.1%). There are also a number of people of Norwegian ancestry (19.7%), and residents who report Swedish roots (11.3%), and some of the residents are also of Irish ancestry (11.0%), along with some French ancestry residents (8.3%), among others.

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 Elk River West neighborhood spend between 15 and 30 minutes commuting one-way to work (26.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.1%) 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 (7.8%) . 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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