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Real Estate Prices & Overview

Park Point median real estate price is $573,054, which is more expensive than 91.2% of the neighborhoods in Minnesota and 75.4% of the neighborhoods in the U.S.

The average rental price in Park Point is currently $2,221, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.5% of the neighborhoods in Minnesota.

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

Park Point real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Park Point 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 1970 and 1999.

Vacant apartments or homes are a major fact of life in Park Point. The current real estate vacancy rate here is 16.8%. This is higher than the rate of vacancies in 81.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (15.0%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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.

People

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

In addition, if you are planning to retire in Minnesota, this neighborhood should be on your must-see list. For many reasons, Park Point may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Minnesota, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.9% of neighborhoods in MN. If a Minnesota retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives.

Also, divorcees may find friendship and understanding in this neighborhood, as 20.6% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 96.3% of the neighborhoods in America.

Diversity

Did you know that the Park Point neighborhood has more Finnish and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.6% of this neighborhood's residents have Finnish ancestry and 11.0% have Swedish ancestry.

Park Point is also pretty special linguistically. Significantly, 6.4% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 99.3% of the neighborhoods in America.

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 Park Point neighborhood in Duluth are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 62.8% 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.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Park Point neighborhood, 61.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 16.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.4%), and 9.2% 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 Park Point neighborhood is English, spoken by 85.8% of households. Other important languages spoken here include German/Yiddish, Italian, 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 Park Point neighborhood in Duluth, MN, residents most commonly identify their ethnicity or ancestry as German (20.3%). There are also a number of people of Italian ancestry (11.3%), and residents who report Irish roots (11.2%), and some of the residents are also of English ancestry (11.1%), along with some Swedish ancestry residents (11.0%), 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 Park Point neighborhood spend between 15 and 30 minutes commuting one-way to work (49.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (79.5%) 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 (8.7%) . 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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