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Real Estate Prices & Overview

Median real estate price in the City Center of New Prague is $433,424, which is more expensive than 67.2% of the neighborhoods in Minnesota and 57.9% of the neighborhoods in the U.S.

The average rental price in New Prague City Center is currently $2,370, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.9% of the neighborhoods in Minnesota.

New Prague City Center is a suburban neighborhood (based on population density) located in New Prague, Minnesota.

Real estate in the City Center of New Prague, MN is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the City Center neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In New Prague City Center, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in New Prague City Center 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 New Prague, the City Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the New Prague City Center neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

Diversity

Did you know that the New Prague City Center neighborhood has more Czechoslovakian and German ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Czechoslovakian ancestry and 38.7% have German ancestry.

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 City Center neighborhood in New Prague are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.8% of the neighborhoods in America. In addition, 4.3% 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 67.0% 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 New Prague City Center neighborhood, 49.8% 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 23.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.1%), and 9.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the New Prague City Center neighborhood is English, spoken by 96.4% of households. Some people also speak Polish (4.5%).

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 City Center neighborhood in New Prague, MN, residents most commonly identify their ethnicity or ancestry as German (38.7%). There are also a number of people of Irish ancestry (12.6%), and residents who report Norwegian roots (8.4%), and some of the residents are also of Polish ancestry (4.3%), along with some Swedish ancestry residents (3.8%), 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 New Prague City Center neighborhood spend under 15 minutes commuting one-way to work (36.8% of working residents), one of the shortest commutes across America.

Here most residents (78.3%) 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 (8.1%) . 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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