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Real Estate Prices & Overview

Bingham Lake median real estate price is $202,446, which is less expensive than 79.4% of Minnesota neighborhoods and 77.6% of all U.S. neighborhoods.

The average rental price in Bingham Lake is currently $1,531, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.4% of Minnesota neighborhoods.

Bingham Lake is a remote neighborhood (based on population density) located in Windom, Minnesota.

Bingham Lake real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Bingham Lake neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Bingham Lake has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.4% 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.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Bingham Lake neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Residents of the Bingham Lake neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 71.3% 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 98.7% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Occupations

Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Bingham Lake neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 96.8% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

Real Estate

Unpopulated, and rural, the Bingham Lake neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 90.2% of the neighborhoods in America.

Diversity

Did you know that the Bingham Lake neighborhood has more Norwegian and German ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.9% of this neighborhood's residents have Norwegian ancestry and 37.4% have German 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 Bingham Lake neighborhood in Windom are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 77.1% of U.S. neighborhoods. With 15.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 60.4% of U.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 Bingham Lake neighborhood, 29.2% 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 25.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.7%), and 19.7% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Bingham Lake neighborhood is English, spoken by 89.1% of households. Some people also speak Spanish (7.7%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Bingham Lake neighborhood in Windom, MN, residents most commonly identify their ethnicity or ancestry as German (37.4%). There are also a number of people of Mexican ancestry (11.9%), and residents who report Irish roots (11.2%), and some of the residents are also of Norwegian ancestry (10.9%), along with some Swedish ancestry residents (5.0%), among others.

Getting to Work

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 Bingham Lake neighborhood spend under 15 minutes commuting one-way to work (71.3% of working residents), one of the shortest commutes across America.

Here most residents (76.7%) 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 (8.6%) and 6.8% of residents also hop out the door and walk to work 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.


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