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Real Estate Prices & Overview

Lakeville West median real estate price is $583,352, which is more expensive than 89.8% of the neighborhoods in Minnesota and 73.3% of the neighborhoods in the U.S.

The average rental price in Lakeville West is currently $2,639, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.1% of the neighborhoods in Minnesota.

Lakeville West is a rural neighborhood (based on population density) located in Lakeville, Minnesota.

Lakeville West 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 Lakeville West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Lakeville West, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 84.1% of all neighborhoods in the U.S. This means that the housing supply in Lakeville West 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.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Lakeville West neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 51.5% of the households here have four, five, or more cars. That is more cars per household than in 99.7% of the neighborhoods in the nation.

Real Estate

Owner-occupied real estate dominates the Lakeville West neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.7% of neighborhoods in America.

In addition, one way that the Lakeville West neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.4% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

People

According to NeighborhoodScout's exclusive analysis, Lakeville West is among the best neighborhoods for families in Minnesota. In fact, this neighborhood is more family-friendly than 98.7% of neighborhoods in the entire state of Minnesota. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Lakeville West neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for college students.

Occupations

It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Lakeville West neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 3.6% of the workforce so employed, this neighborhood has a greater concentration of such workers than 95.0% of U.S. neighborhoods.

Diversity

Did you know that the Lakeville West neighborhood has more German and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 50.5% of this neighborhood's residents have German ancestry and 8.3% have Swedish ancestry.

Lakeville West is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 95.2% 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 Lakeville West neighborhood in Lakeville 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 93.8% of the neighborhoods in America. In addition, 1.7% 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 76.2% 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 Lakeville West neighborhood, 39.5% 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 26.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.5%), and 12.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Lakeville West neighborhood is English, spoken by 96.2% of households. Some people also speak Tagalog (the first language of the Philippine region) (2.7%).

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 Lakeville West neighborhood in Lakeville, MN, residents most commonly identify their ethnicity or ancestry as German (50.5%). There are also a number of people of Irish ancestry (22.8%), and residents who report Norwegian roots (12.5%), and some of the residents are also of Swedish ancestry (8.3%), along with some English ancestry residents (4.1%), 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 Lakeville West neighborhood spend between 15 and 30 minutes commuting one-way to work (34.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.0%) drive alone in a private automobile to get to work. 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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