Glen Lake / Oak Terrace median real estate price is $541,492, which is more expensive than 86.2% of the neighborhoods in Minnesota and 69.8% of the neighborhoods in the U.S.
The average rental price in Glen Lake / Oak Terrace is currently $2,344, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.0% of the neighborhoods in Minnesota.
Glen Lake / Oak Terrace is a suburban neighborhood (based on population density) located in Minnetonka, Minnesota.
Glen Lake / Oak Terrace real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Glen Lake / Oak Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Glen Lake / Oak Terrace are 5.7%, which is lower than one will find in 62.0% of American neighborhoods. Demand for real estate in Glen Lake / Oak Terrace is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
There is an especially high percentage of incarcerated people (0.8%) living in the Glen Lake / Oak Terrace neighborhood.
Did you know that the Glen Lake / Oak Terrace neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.3% of this neighborhood's residents have Swedish ancestry and 13.8% have Norwegian ancestry.
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 Glen Lake / Oak Terrace neighborhood in Minnetonka 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 89.3% of the neighborhoods in America. In addition, 5.2% 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 63.9% 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 Glen Lake / Oak Terrace neighborhood, 55.3% 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 24.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.3%), and 6.7% in clerical, assistant, and tech support occupations.
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 Glen Lake / Oak Terrace neighborhood is English, spoken by 93.2% of households. Other important languages spoken here include Spanish and Polish.
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 Glen Lake / Oak Terrace neighborhood in Minnetonka, MN, residents most commonly identify their ethnicity or ancestry as German (32.2%). There are also a number of people of Norwegian ancestry (13.8%), and residents who report Swedish roots (11.3%), and some of the residents are also of Irish ancestry (10.6%), along with some French ancestry residents (9.4%), among others.
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 Glen Lake / Oak Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (48.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (66.1%) 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.