Elko New Market is a somewhat small city located in the state of Minnesota. With a population of 5,048 people and just one neighborhood, Elko New Market is the 160th largest community in Minnesota. Much of the housing stock in Elko New Market was built relatively recently. The construction of new real estate can often be taken as an indication that the local Elko New Market economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Elko New Market, where the median household income is $149,881.00.
Elko New Market real estate is some of the most expensive in Minnesota, although Elko New Market house values don't compare to the most expensive real estate in the U.S.
Elko New Market is a decidedly white-collar city, with fully 89.14% of the workforce employed in white-collar jobs, well above the national average. Overall, Elko New Market is a city of professionals, sales and office workers, and managers. There are especially a lot of people living in Elko New Market who work in sales jobs (13.59%), healthcare (10.16%), and office and administrative support (9.73%).
Also of interest is that Elko New Market has more people living here who work in computers and math than 95% of the places in the US.
One interesting thing about the economy is that relatively large numbers of people worked from their home: 18.65% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Elko New Market is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Elko New Market’s overall crime rate ranks among the lowest in the country, making it one of the safest places to raise a family.
One downside of living in Elko New Market, however, is that residents on average have to contend with a long commute, spending on average 31.90 minutes every day commuting to work.
Elko New Market is one of the most well-educated cities in the nation. 43.65% of adults in Elko New Market have at least a bachelor's degree. Compare that to the average community in America, which has just 21.84% with a bachelor's degree or higher.
The per capita income in Elko New Market in 2022 was $51,624, which is wealthy relative to Minnesota and the nation. This equates to an annual income of $206,496 for a family of four.
Elko New Market is a somewhat ethnically-diverse city. The people who call Elko New Market home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Elko New Market residents report their race to be White, followed by Black or African-American. Important ancestries of people in Elko New Market include German, Norwegian, Irish, Swedish, and English.
The most common language spoken in Elko New Market is English. Other important languages spoken here include Polish and Spanish.
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 Elko New Market, the neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 98.6% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
In addition, according to NeighborhoodScout's exclusive analysis, is among the best neighborhoods for families in Minnesota. In fact, this neighborhood is more family-friendly than 98.2% of neighborhoods in the entire state of Minnesota. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.
One way that the neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.2% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Did you know that the neighborhood has more Norwegian and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.2% of this neighborhood's residents have Norwegian ancestry and 6.9% have Swedish 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 neighborhood in Elko New Market 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 92.7% of the neighborhoods in America. In addition, 2.0% 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 75.3% 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 neighborhood, 47.7% 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 27.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.6%), and 12.0% in clerical, assistant, and tech support occupations.
The most common language spoken in the neighborhood is English, spoken by 93.9% of households.
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 neighborhood in Elko New Market, MN, residents most commonly identify their ethnicity or ancestry as German (36.2%). There are also a number of people of Norwegian ancestry (16.2%), and residents who report Irish roots (12.6%), and some of the residents are also of Swedish ancestry (6.9%), along with some English ancestry residents (6.5%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in neighborhood spend between 30 and 45 minutes commuting one-way to work (38.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (77.4%) 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.