North Loop median real estate price is $556,266, which is more expensive than 86.9% of the neighborhoods in Minnesota and 70.4% of the neighborhoods in the U.S.
The average rental price in North Loop is currently $2,876, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.6% of the neighborhoods in Minnesota.
North Loop is an urban neighborhood (based on population density) located in Minneapolis, Minnesota.
North Loop 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the North Loop neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 7.1% in North Loop. NeighborhoodScout analysis shows that this rate is lower than 53.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Minneapolis, the North Loop neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the North Loop 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 North Loop community truly stands out from the rest in this regard.
In addition, north Loop has the amazing distinction of housing more same sex couples living together than 98.3% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 35.1% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 95.0% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
One of the really unique and interesting things about the look and setting of the North Loop neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.7% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.9% of all neighborhoods in America.
In addition, the North Loop 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 93.7% 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.
Furthermore, 86.3% of the real estate in the North Loop neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, if you like the look and ambience of new homes and newly built neighborhoods, you will love the North Loop neighborhood. A whopping 68.7% 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 95.6% of the neighborhoods in the U.S. Everything here just feels new.
More people in North Loop choose to walk to work each day (20.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
The North Loop neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.2% of the neighborhoods in America. In fact, 76.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the North Loop neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the North Loop neighborhood has more Norwegian and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.4% of this neighborhood's residents have Norwegian ancestry and 1.2% have Canadian ancestry.
North Loop is also pretty special linguistically. Significantly, 4.2% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.
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 North Loop neighborhood in Minneapolis 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 86.3% 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 North Loop neighborhood, 76.4% 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 17.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.9%).
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 North Loop neighborhood is English, spoken by 82.5% of households. Other important languages spoken here include Spanish, Chinese, African languages and Polish.
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 North Loop neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (21.3%). There are also a number of people of Irish ancestry (14.2%), and residents who report Norwegian roots (9.4%), and some of the residents are also of Asian ancestry (8.7%), along with some Italian ancestry residents (7.6%), among others. In addition, 16.7% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in North Loop neighborhood spend between 15 and 30 minutes commuting one-way to work (47.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (44.0%) 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 (20.3%) and 9.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
