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Real Estate Prices & Overview

Elk River East median real estate price is $337,792, which is more expensive than 45.6% of the neighborhoods in Minnesota and 44.7% of the neighborhoods in the U.S.

The average rental price in Elk River East is currently $2,328, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.4% of the neighborhoods in Minnesota.

Elk River East is a rural neighborhood (based on population density) located in Elk River, Minnesota.

Elk River East real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Elk River East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 7.2% in Elk River East. NeighborhoodScout analysis shows that this rate is lower than 52.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Elk River, the Elk River East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Elk River East neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Real Estate

Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Elk River East neighborhood could be your paradise. With 32.7% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 2.8% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Elk River East neighborhood. A whopping 69.9% 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 95.8% of the neighborhoods in the U.S. Everything here just feels new.

Diversity

Did you know that the Elk River East neighborhood has more Finnish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.5% of this neighborhood's residents have Finnish ancestry and 13.7% 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 Elk River East neighborhood in Elk River are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.2% 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.

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 Elk River East neighborhood, 40.5% 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 28.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.7%), and 13.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Elk River East neighborhood is English, spoken by 94.4% of households. Some people also speak Polish (4.4%).

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 Elk River East neighborhood in Elk River, MN, residents most commonly identify their ethnicity or ancestry as German (31.8%). There are also a number of people of English ancestry (15.3%), and residents who report Norwegian roots (13.7%), and some of the residents are also of Finnish ancestry (10.5%), along with some Irish ancestry residents (8.2%), 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 Elk River East neighborhood spend between 15 and 30 minutes commuting one-way to work (37.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (66.9%) 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 (9.5%) . 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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