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Real Estate Prices & Overview

Memorial Park median real estate price is $477,660, which is more expensive than 89.9% of the neighborhoods in South Dakota and 65.6% of the neighborhoods in the U.S.

The average rental price in Memorial Park is currently $1,742, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.5% of the neighborhoods in South Dakota.

Memorial Park is a suburban neighborhood (based on population density) located in Sioux Falls, South Dakota.

Memorial Park real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four 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 Memorial Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Memorial Park, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 87.3% of all neighborhoods in the U.S. This means that the housing supply in Memorial Park is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

People

Of note is NeighborhoodScout's research finding that the Memorial 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 Memorial Park community truly stands out from the rest in this regard.

In addition, if you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Memorial Park neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 10.3% executive lifestyle neighborhoods in the state of South Dakota.

Real Estate

If you like the look and ambience of new homes and newly built neighborhoods, you will love the Memorial Park neighborhood. A whopping 71.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.2% of the neighborhoods in the U.S. Everything here just feels new.

Diversity

Did you know that the Memorial Park neighborhood has more Dutch and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.9% of this neighborhood's residents have Dutch ancestry and 21.1% have Norwegian ancestry.

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 Memorial Park neighborhood in Sioux Falls are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 76.2% 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 Memorial Park neighborhood, 40.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 20.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.9%), and 17.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Memorial Park neighborhood is English, spoken by 97.2% of households. Some people also speak Polish (3.8%).

Ethnicity / Ancestry

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 Memorial Park neighborhood in Sioux Falls, SD, residents most commonly identify their ethnicity or ancestry as German (41.3%). There are also a number of people of Norwegian ancestry (21.1%), and residents who report Dutch roots (15.9%), and some of the residents are also of Irish ancestry (10.1%), along with some Swedish ancestry residents (7.7%), 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 Memorial Park neighborhood spend between 15 and 30 minutes commuting one-way to work (64.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (81.5%) 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 (6.2%) . 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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