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Real Estate Prices & Overview

Carag median real estate price is $475,788, which is more expensive than 80.8% of the neighborhoods in Minnesota and 66.7% of the neighborhoods in the U.S.

The average rental price in Carag is currently $2,002, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.8% of the neighborhoods in Minnesota.

Carag is a densely urban neighborhood (based on population density) located in Minneapolis, Minnesota.

Carag real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Carag neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

In Carag, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 85.8% of all neighborhoods in the U.S. This means that the housing supply in Carag is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.0% of residents in the Carag neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.1% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Carag neighborhood is one of the most walkable neighborhoods in America.

In addition, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Carag neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 63.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.4% of the neighborhoods in the United States.

People

With more than 1.9% of residents living with a same sex partner, Carag is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.7% of U.S. neighborhoods.

Diversity

Did you know that the Carag neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.6% of this neighborhood's residents have Swedish ancestry and 8.1% have Norwegian ancestry.

Carag is also pretty special linguistically. Significantly, 6.6% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 95.7% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Carag neighborhood. In the Carag neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Carag neighborhood in Minneapolis are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.1% of the neighborhoods in America. In addition, 10.3% 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 50.1% 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 Carag neighborhood, 53.6% 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 24.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.4%), and 10.0% in manufacturing and laborer occupations.

Languages

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 Carag neighborhood is English, spoken by 89.8% of households. Other important languages spoken here include Polish and Spanish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Carag neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (22.7%). There are also a number of people of Irish ancestry (10.5%), and residents who report English roots (10.0%), and some of the residents are also of Norwegian ancestry (8.1%), along with some Swedish ancestry residents (7.6%), 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 Carag neighborhood spend between 15 and 30 minutes commuting one-way to work (48.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (53.6%) 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 (10.6%) and 9.3% of residents also ride the bus 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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