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Real Estate Prices & Overview

Victory median real estate price is $282,598, which is more expensive than 34.8% of the neighborhoods in Minnesota and 38.9% of the neighborhoods in the U.S.

The average rental price in Victory is currently $1,932, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.7% of the neighborhoods in Minnesota.

Victory is an urban neighborhood (based on population density) located in Minneapolis, Minnesota.

Victory real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Victory 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.

Real estate vacancies in Victory are 3.9%, which is lower than one will find in 74.3% of American neighborhoods. Demand for real estate in Victory is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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.

Real Estate

If you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 67.0% of the residential real estate in the Victory neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Victory neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.0% of this neighborhood's residents have Swedish ancestry and 11.1% have Norwegian ancestry.

Victory is also pretty special linguistically. Significantly, 8.0% 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 97.1% 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 Victory neighborhood in Minneapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.7% of the neighborhoods in America. With 25.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.7% of U.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 Victory neighborhood, 59.3% 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 15.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.3%), and 11.7% in clerical, assistant, and tech support 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 Victory neighborhood is English, spoken by 93.5% 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 Victory neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (21.9%). There are also a number of people of Norwegian ancestry (11.1%), and residents who report English roots (8.2%), and some of the residents are also of Swedish ancestry (7.0%), along with some Irish ancestry residents (6.4%), 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 Victory neighborhood spend between 15 and 30 minutes commuting one-way to work (49.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.3%) 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 (7.3%) and 6.1% 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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