Cedar Riverside / Augsburg University median real estate price is $228,978, which is more expensive than 25.6% of the neighborhoods in Minnesota and 25.1% of the neighborhoods in the U.S.
The average rental price in Cedar Riverside / Augsburg University is currently $1,630, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 56.8% of Minnesota neighborhoods.
Cedar Riverside / Augsburg University is an urban neighborhood (based on population density) located in Minneapolis, Minnesota.
Cedar Riverside / Augsburg University 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 Cedar Riverside / Augsburg University neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
In Cedar Riverside / Augsburg University, the current vacancy rate is 2.9%, which is a lower rate of vacancies than 80.9% of all neighborhoods in the U.S. This means that the housing supply in Cedar Riverside / Augsburg University is very tight compared to the demand for property here.
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 Minneapolis, the Cedar Riverside / Augsburg University neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
An extraordinary 51.8% of the residents of the Cedar Riverside / Augsburg University neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
In addition, one of the unique characteristics of the Cedar Riverside / Augsburg University neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.0% of the neighborhoods in America.
Also, with a nice mix of college students, safety from crime, and decent walkability, the Cedar Riverside / Augsburg University neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.2% of the neighborhoods in MN. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Modes of Transportation
More people in Cedar Riverside / Augsburg University choose to walk to work each day (27.9%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Cedar Riverside / Augsburg University neighborhood, 12.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 95.9% of the neighborhoods in America.
Real Estate
The Cedar Riverside / Augsburg University neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, renter-occupied real estate is dominant in the Cedar Riverside / Augsburg University neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.0%, which is higher than 95.6% 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.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Cedar Riverside / Augsburg University neighborhood has a highly unusual pattern of car ownership. 19.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.1% of U.S. neighborhoods.
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 Cedar Riverside / Augsburg University neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Cedar Riverside / Augsburg University neighborhood has more Norwegian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.4% of this neighborhood's residents have Norwegian ancestry and 1.4% have Finnish ancestry.
Cedar Riverside / Augsburg University is also pretty special linguistically. Significantly, 28.0% 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 100.0% of the neighborhoods in America.
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 Cedar Riverside / Augsburg University neighborhood in Minneapolis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.0% of U.S. neighborhoods. With 19.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 67.8% 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 Cedar Riverside / Augsburg University neighborhood, 42.7% 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 27.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.6%), and 10.1% 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 Cedar Riverside / Augsburg University neighborhood is English, spoken by 69.9% of households. Other important languages spoken here include African languages, Chinese, Spanish and Korean.
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 Cedar Riverside / Augsburg University neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (17.0%). There are also a number of people of Asian ancestry (15.4%), and residents who report Irish roots (12.5%), and some of the residents are also of Norwegian ancestry (11.4%), along with some Sub-Saharan African ancestry residents (6.0%), among others. In addition, 22.5% of the residents of this neighborhood were born in another country.
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 Cedar Riverside / Augsburg University neighborhood spend between 15 and 30 minutes commuting one-way to work (43.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (32.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (27.9%) and 12.8% of residents also take the train 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.
