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Real Estate Prices & Overview

Phillips median real estate price is $252,433, which is more expensive than 32.0% of the neighborhoods in Minnesota and 31.7% of the neighborhoods in the U.S.

The average rental price in Phillips is currently $1,361, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.0% of Minnesota neighborhoods.

Phillips is a densely urban neighborhood (based on population density) located in Minneapolis, Minnesota.

Phillips 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 Phillips 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.

Phillips has a 12.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.6% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Phillips neighborhood is a fantastic option for bicycle commuters, as 5.4% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.4% of the neighborhoods in America.

Also, more people ride the bus in this neighborhood each day to get to work than 97.3% of U.S. neighborhoods.

Finally, more people in Phillips choose to walk to work each day (14.5%) 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.

Real Estate

Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Phillips neighborhood is one of the most walkable neighborhoods in America.

In addition, renter-occupied real estate is dominant in the Phillips neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 93.0%, which is higher than 97.6% 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.

Furthermore, 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 Phillips neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 59.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.4% of the neighborhoods in the United States.

Occupations

There are more people living in the Phillips neighborhood employed as sales and service workers (60.9%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the Phillips neighborhood has more Sub-Saharan African and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.7% of this neighborhood's residents have Sub-Saharan African ancestry and 5.5% have Native American ancestry.

Phillips is also pretty special linguistically. Significantly, 25.1% 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.

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 Phillips 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 87.6% of U.S. neighborhoods. With 25.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.3% of U.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 Phillips neighborhood, 39.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.0% of the residents employed. Other residents here are employed in executive, management, and professional occupations (21.1%), and 13.8% 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 Phillips neighborhood is English, spoken by 45.1% of households. Other important languages spoken here include African languages, Spanish and Native American languages.

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 Phillips neighborhood in Minneapolis, MN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (18.7%). There are also a number of people of Mexican ancestry (13.5%), and residents who report German roots (11.0%), and some of the residents are also of Irish ancestry (9.9%), along with some Native American ancestry residents (5.5%), among others. In addition, 24.7% of the residents of this neighborhood were born in another country.

Getting to Work

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 Phillips neighborhood spend between 15 and 30 minutes commuting one-way to work (58.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (50.1%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (15.1%) and 14.5% of residents also hop out the door and walk to work 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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