What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Nicollet Island - East Bank median real estate price is $567,483, which is more expensive than 85.6% of the neighborhoods in Minnesota and 70.5% of the neighborhoods in the U.S.
The average rental price in Nicollet Island - East Bank is currently $2,421, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.8% of the neighborhoods in Minnesota.
Nicollet Island - East Bank is an urban neighborhood (based on population density) located in Minneapolis, Minnesota.
Nicollet Island - East Bank real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Nicollet Island - East Bank neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Nicollet Island - East Bank has a 12.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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
In a nation where 1 out of every 4 children lives in poverty, the Nicollet Island - East Bank neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Nicollet Island - East Bank neighborhood, where 37.0% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 95.9% of the neighborhoods in America.
Real Estate
The Nicollet Island - East Bank neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 87.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Modes of Transportation
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.2% of residents in the Nicollet Island - East Bank neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.1% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Occupations
Executives, managers and professionals make up 70.8% of the workforce in the Nicollet Island - East Bank neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the Nicollet Island - East Bank neighborhood has more Norwegian and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.4% of this neighborhood's residents have Norwegian ancestry and 2.3% have Lithuanian ancestry.
Nicollet Island - East Bank is also pretty special linguistically. Significantly, 1.7% 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 98.1% 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 Nicollet Island - East Bank 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 77.4% 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Nicollet Island - East Bank neighborhood, 70.8% 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 16.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.9%), and 4.7% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Nicollet Island - East Bank neighborhood is English, spoken by 87.6% of households. Some people also speak Spanish (3.2%).
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 Nicollet Island - East Bank neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (24.0%). There are also a number of people of Norwegian ancestry (15.4%), and residents who report Irish roots (12.9%), and some of the residents are also of English ancestry (11.1%), along with some Swedish ancestry residents (7.6%), 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 Nicollet Island - East Bank neighborhood spend between 15 and 30 minutes commuting one-way to work (46.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (59.8%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (5.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
