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Real Estate Prices & Overview

Median real estate price in the City Center of Mankato is $237,294, which is less expensive than 79.1% of Minnesota neighborhoods and 71.2% of all U.S. neighborhoods.

The average rental price in Mankato City Center is currently $1,214, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.2% of Minnesota neighborhoods.

Mankato City Center is a suburban neighborhood (based on population density) located in Mankato, Minnesota.

Real estate in the City Center of Mankato, MN is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the City Center neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.

Mankato City Center has a 10.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.0% 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

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

NeighborhoodScout's analysis shows that the Mankato City Center neighborhood has a greater concentration of residents currently enrolled in college than 98.5% of the neighborhoods in the U.S. With 30.1% of the population here attending college, this is very much a college-focused neighborhood.

In addition, the Mankato City Center neighborhood stands out within Minnesota for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 6.5% of college-friendly places to live in MN.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Mankato City Center neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 67.6% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 98.1% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Real Estate

Renter-occupied real estate is dominant in the Mankato City Center neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 87.7%, which is higher than 96.1% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Mankato City Center neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 34.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.9% of America's neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.7% of the residential real estate in the Mankato City Center neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Mankato City Center neighborhood has more Norwegian and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.1% of this neighborhood's residents have Norwegian ancestry and 7.5% have Swedish ancestry.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Mankato City Center neighborhood. In the Mankato City Center neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 City Center neighborhood in Mankato are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 92.9% of U.S. neighborhoods. With 41.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.6% of U.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 Mankato City Center neighborhood, 30.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 28.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (24.4%), and 16.6% in clerical, assistant, and tech support occupations.

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 Mankato City Center neighborhood is English, spoken by 89.8% of households. Other important languages spoken here include Spanish 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 City Center neighborhood in Mankato, MN, residents most commonly identify their ethnicity or ancestry as German (34.7%). There are also a number of people of Norwegian ancestry (14.1%), and residents who report Mexican roots (12.5%), and some of the residents are also of English ancestry (7.6%), along with some Swedish ancestry residents (7.5%), 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 Mankato City Center neighborhood spend under 15 minutes commuting one-way to work (67.6% of working residents), one of the shortest commutes across America.

Here most residents (72.2%) 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 (11.2%) and 6.0% of residents also ride the bus 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.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

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