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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
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.
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 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
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.
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 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.