menu






Real Estate Prices & Overview

Glen Lake / Oak Terrace median real estate price is $505,195, which is more expensive than 86.1% of the neighborhoods in Minnesota and 71.8% of the neighborhoods in the U.S.

The average rental price in Glen Lake / Oak Terrace is currently $2,447, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.6% of the neighborhoods in Minnesota.

Glen Lake / Oak Terrace is a suburban neighborhood (based on population density) located in Minnetonka, Minnesota.

Glen Lake / Oak Terrace 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 Glen Lake / Oak Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Glen Lake / Oak Terrace, the current vacancy rate is 2.0%, which is a lower rate of vacancies than 87.5% of all neighborhoods in the U.S. This means that the housing supply in Glen Lake / Oak Terrace 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.

People

There is an especially high percentage of incarcerated people (0.8%) living in the Glen Lake / Oak Terrace neighborhood.

Diversity

Did you know that the Glen Lake / Oak Terrace neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.9% of this neighborhood's residents have Swedish ancestry and 13.4% 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 Glen Lake / Oak Terrace neighborhood in Minnetonka 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 89.0% of the neighborhoods in America. In addition, 7.1% 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 59.1% 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 Glen Lake / Oak Terrace neighborhood, 54.0% 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 23.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.2%), and 8.2% 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 Glen Lake / Oak Terrace neighborhood is English, spoken by 94.6% of households. Other important languages spoken here include Polish and Spanish.

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 Glen Lake / Oak Terrace neighborhood in Minnetonka, MN, residents most commonly identify their ethnicity or ancestry as German (31.7%). There are also a number of people of Norwegian ancestry (13.4%), and residents who report Swedish roots (12.9%), and some of the residents are also of Irish ancestry (9.5%), along with some French ancestry residents (8.1%), 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 Glen Lake / Oak Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (48.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (73.8%) 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.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

comparable neighborhoods nearby