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Real Estate Prices & Overview

Corcoran median real estate price is $319,501, which is more expensive than 38.3% of the neighborhoods in Minnesota and 41.6% of the neighborhoods in the U.S.

The average rental price in Corcoran is currently $1,783, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 45.0% of Minnesota neighborhoods.

Corcoran is an urban neighborhood (based on population density) located in Minneapolis, Minnesota.

Corcoran 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 Corcoran 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 2000 and the present.

In Corcoran, the current vacancy rate is 2.2%, which is a lower rate of vacancies than 84.5% of all neighborhoods in the U.S. This means that the housing supply in Corcoran is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Corcoran neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Corcoran has the amazing distinction of housing more same sex couples living together than 98.9% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

Modes of Transportation

In the Corcoran neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 35.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.7% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Also, in the Corcoran neighborhood, 9.3% 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 95.2% of the neighborhoods in America.

Real Estate

Do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Corcoran neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 56.6% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.7% of the neighborhoods in the United States.

Diversity

Did you know that the Corcoran neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.9% of this neighborhood's residents have Swedish ancestry and 10.1% have Norwegian ancestry.

Corcoran is also pretty special linguistically. Significantly, 2.6% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 99.3% of the neighborhoods in America.

The Neighbors

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 Corcoran neighborhood in Minneapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.6% of the neighborhoods in America. With 14.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.0% of U.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 Corcoran neighborhood, 60.0% 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 20.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.9%), and 9.8% 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 Corcoran neighborhood is English, spoken by 78.1% of households. Other important languages spoken here include Spanish, African languages and Native American languages.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Corcoran neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as German (20.9%). There are also a number of people of Mexican ancestry (10.5%), and residents who report Norwegian roots (10.1%), and some of the residents are also of Irish ancestry (9.9%), along with some Swedish ancestry residents (8.9%), among others. In addition, 12.5% of the residents of this neighborhood were born in another country.

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 Corcoran neighborhood spend between 15 and 30 minutes commuting one-way to work (35.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (39.8%) 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 (12.3%) and 9.3% 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.


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