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Real Estate Prices & Overview

Otsego West median real estate price is $488,960, which is more expensive than 74.7% of the neighborhoods in Minnesota and 63.0% of the neighborhoods in the U.S.

The average rental price in Otsego West is currently $2,320, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.9% of the neighborhoods in Minnesota.

Otsego West is a rural neighborhood (based on population density) located in Otsego, Minnesota.

Otsego West real estate 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 Otsego West neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

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

Real Estate

Real estate in the Otsego West neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.3% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. With a real estate vacancy rate of only 0.0%, the Otsego West neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Otsego West neighborhood. A whopping 74.5% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.3% of the neighborhoods in the U.S. Everything here just feels new.

People

According to NeighborhoodScout's exclusive analysis, Otsego West is among the best neighborhoods for families in Minnesota. In fact, this neighborhood is more family-friendly than 97.6% 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 Otsego West 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.

Diversity

Did you know that the Otsego West neighborhood has more Swedish and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.3% of this neighborhood's residents have Swedish ancestry and 14.0% have Norwegian 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 Otsego West neighborhood in Otsego 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 90.3% of the neighborhoods in America. In addition, 0.9% 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 78.9% 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 Otsego West neighborhood, 51.2% 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 22.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.2%), and 12.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Otsego West neighborhood is English, spoken by 94.0% of households.

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 Otsego West neighborhood in Otsego, MN, residents most commonly identify their ethnicity or ancestry as German (26.9%). There are also a number of people of Irish ancestry (14.3%), and residents who report Norwegian roots (14.0%), and some of the residents are also of Swedish ancestry (12.3%), along with some English ancestry residents (9.3%), 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 Otsego West neighborhood spend between 30 and 45 minutes commuting one-way to work (36.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (75.0%) 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 (13.6%) . 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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