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Real Estate Prices & Overview

Tonka Park median real estate price is $247,183, which is less expensive than 78.1% of Minnesota neighborhoods and 70.1% of all U.S. neighborhoods.

The average rental price in Tonka Park is currently $1,722, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.5% of Minnesota neighborhoods.

Tonka Park is a suburban neighborhood (based on population density) located in Faribault, Minnesota.

Tonka Park 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 owner occupied. Many of the residences in the Tonka Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Tonka Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Tonka Park is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Faribault, the Tonka Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Tonka Park neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

People

In a nation where 1 out of every 4 children lives in poverty, the Tonka Park neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Occupations

More people work in manufacturing and as laborers here in the Tonka Park neighborhood than in 96.6% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.

Diversity

Did you know that the Tonka Park neighborhood has more Swiss and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.4% of this neighborhood's residents have Swiss ancestry and 2.1% have Austrian ancestry.

Tonka Park is also pretty special linguistically. Significantly, 12.2% 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 99.8% 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 Tonka Park neighborhood in Faribault are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 46.1% 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 Tonka Park neighborhood, 44.0% of the working population is employed in manufacturing and laborer 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 22.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.5%), and 15.0% 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 Tonka Park neighborhood is English, spoken by 85.6% of households. Other important languages spoken here include African languages and Spanish.

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 Tonka Park neighborhood in Faribault, MN, residents most commonly identify their ethnicity or ancestry as German (30.2%). There are also a number of people of Irish ancestry (12.4%), and residents who report Sub-Saharan African roots (10.1%), and some of the residents are also of Norwegian ancestry (8.8%), along with some Swiss ancestry residents (4.4%), among others. In addition, 11.4% of the residents of this neighborhood were born in another country.

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 Tonka Park neighborhood spend under 15 minutes commuting one-way to work (36.1% of working residents), one of the shortest commutes across America.

Here most residents (83.6%) 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 (10.5%) . 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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