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Real Estate Prices & Overview

Carag median real estate price is $511,978, which is more expensive than 80.6% of the neighborhoods in Minnesota and 65.9% of the neighborhoods in the U.S.

The average rental price in Carag is currently $1,980, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.4% of the neighborhoods in Minnesota.

Carag is a densely urban neighborhood (based on population density) located in Minneapolis, Minnesota.

Carag real estate 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 Carag 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 1940 and 1969.

Real estate vacancies in Carag are 5.4%, which is lower than one will find in 62.6% of American neighborhoods. Demand for real estate in Carag 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.

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.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.1% of residents in the Carag neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Carag neighborhood is one of the most walkable neighborhoods in America.

In addition, 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 67.3% of the residential real estate in the Carag neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

People

With more than 1.9% of residents living with a same sex partner, Carag is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.7% of U.S. neighborhoods.

Diversity

Did you know that the Carag neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Swedish ancestry and 9.9% have Norwegian ancestry.

Carag is also pretty special linguistically. Significantly, 6.6% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 95.7% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Carag neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Carag neighborhood in Minneapolis are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 50.8% of the neighborhoods in America. With 17.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 65.9% 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 Carag neighborhood, 53.4% 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 24.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.2%), and 9.2% in manufacturing and laborer 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 Carag neighborhood is English, spoken by 88.0% of households. Other important languages spoken here include Polish and Spanish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Carag neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (21.4%). There are also a number of people of English ancestry (12.1%), and residents who report Irish roots (10.7%), and some of the residents are also of Norwegian ancestry (9.9%), along with some Swedish ancestry residents (6.8%), 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 Carag neighborhood spend between 15 and 30 minutes commuting one-way to work (52.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (9.6%) and 5.3% of residents also carpool with coworkers, friends, or neighbors 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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