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Real Estate Prices & Overview

Jefferson Park median real estate price is $393,284, which is more expensive than 65.9% of the neighborhoods in Minnesota and 57.0% of the neighborhoods in the U.S.

The average rental price in Jefferson Park is currently $2,339, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.1% of the neighborhoods in Minnesota.

Jefferson Park is a suburban neighborhood (based on population density) located in Richfield, Minnesota.

Jefferson Park 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 Jefferson Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Jefferson Park, the current vacancy rate is 2.2%, which is a lower rate of vacancies than 85.4% of all neighborhoods in the U.S. This means that the housing supply in Jefferson Park 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 Richfield, the Jefferson Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Jefferson Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Jefferson Park community truly stands out from the rest in this regard.

In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Jefferson Park neighborhood: a neighborhood in which more "urban sophisticates" live than 98.0% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.

Diversity

Did you know that the Jefferson Park neighborhood has more Norwegian and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.3% of this neighborhood's residents have Norwegian ancestry and 6.8% have Swedish ancestry.

Jefferson Park is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.6% of the neighborhoods in America.

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 Jefferson Park neighborhood in Richfield 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 88.3% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Jefferson Park neighborhood, 62.9% 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 20.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.8%), and 7.3% 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 Jefferson Park neighborhood is English, spoken by 93.6% of households. Other important languages spoken here include Russian 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 Jefferson Park neighborhood in Richfield, MN, residents most commonly identify their ethnicity or ancestry as German (31.3%). There are also a number of people of Norwegian ancestry (16.3%), and residents who report French roots (11.1%), and some of the residents are also of Irish ancestry (11.0%), along with some Swedish ancestry residents (6.8%), 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 Jefferson Park neighborhood spend between 15 and 30 minutes commuting one-way to work (48.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (62.1%) 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 (9.3%) . 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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