Loretto is a tiny city located in the state of Minnesota. With a population of 620 people and just one neighborhood, Loretto is the 430th largest community in Minnesota.
Loretto home prices are not only among the most expensive in Minnesota, but Loretto real estate also consistently ranks among the most expensive in America.
Loretto is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Loretto is a city of managers, professionals, and sales and office workers. There are especially a lot of people living in Loretto who work in management occupations (16.31%), business and financial occupations (11.76%), and sales jobs (9.63%).
Of important note, Loretto is also a city of artists. Loretto has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Loretto’s character.
Also of interest is that Loretto has more people living here who work in computers and math than 95% of the places in the US.
A relatively large number of people in Loretto telecommute to their jobs. Overall, about 18.98% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Because of many things, Loretto is a great place for families with children to consider. First of all, many other families with children live here, making Loretto a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Loretto has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Loretto’s overall crime rate is lower than average for the country.
In Loretto, however, the average commute to work is quite long. On average, people spend 31.54 minutes each day getting to work, which is significantly higher than the national average.
The citizens of Loretto are among the most well-educated in the nation: 48.88% of adults in Loretto have a bachelor's degree or even advanced degree, whereas the average US city has 21.84% holding at least a bachelor's degree.
The per capita income in Loretto in 2018 was $55,127, which is wealthy relative to Minnesota and the nation. This equates to an annual income of $220,508 for a family of four. However, Loretto contains both very wealthy and poor people as well.
The people who call Loretto home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Loretto residents report their race to be White. Important ancestries of people in Loretto include German, Polish, Swedish, Irish, and Finnish.
The most common language spoken in Loretto is English. Other important languages spoken here include Langs. of India and Other Asian languages.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
In the neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 31.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.0% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the neighborhood may actually hold the key. 72.0% of its residents are married, which is a higher percentage than is found in 98.6% of the neighborhoods in America.
In addition, 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 1.9% of America's neighborhoods are wealthier than the 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.
Also, a majority of the adults in the neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Minnesota by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.7% of the neighborhoods in Minnesota. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.
One way that the neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.1% 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 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 95.7% 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.
Did you know that the neighborhood has more Norwegian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.2% of this neighborhood's residents have Norwegian ancestry and 1.8% have Finnish ancestry.
is also pretty special linguistically. Significantly, 4.6% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 96.9% of the neighborhoods in America.
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 neighborhood in Loretto 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 98.1% of the neighborhoods in America. In addition, 1.6% 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 76.9% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the neighborhood, 65.6% 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 17.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.2%), and 7.3% in manufacturing and laborer occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the neighborhood is English, spoken by 89.9% of households. Other important languages spoken here include Langs. of India and Chinese.
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the neighborhood in Loretto, MN, residents most commonly identify their ethnicity or ancestry as German (32.1%). There are also a number of people of Irish ancestry (13.0%), and residents who report Norwegian roots (11.2%), and some of the residents are also of English ancestry (9.9%), along with some Asian ancestry residents (9.1%), among others.
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 neighborhood spend between 15 and 30 minutes commuting one-way to work (33.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (62.3%) 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.