Loring Park is an energetic neighborhood just outside of downtown Minneapolis. Residents here tend to live in condos and apartments, and they can walk to cultural centers, restaurants, essential stores and the area’s namesake park. They also have an easy commute to the city’s business district, and several ways to get there.
Renters account for nearly 85% of residents in Loring Park, many of whom live in one- to three-bedroom apartments that have traditional exteriors and modern interiors. There are also condos of similar appearance that can sell between the lower $100,000s for a standard unit and the mid-$700,000s for a more deluxe environment. HOA fees often run from $500 to $3,500 per month. There are also a few New Traditional townhouses that usually price in the mid-$500,000s, with HOA fees between $700 and $1,000 per month. Homes are more expensive here than in nearby Stevens Square, but tend to cost less than in areas like Downtown West and North Loop.
A blend of activities and community helps Loring Park feel alive. “It’s healthy and fun and vibrant,” says Barbara Brin, a sales associate with Coldwell Banker Realty – Minneapolis Lakes who lives in the neighborhood. Brin says her favorite thing about the area is the variety of things to do, adding that people can just as easily walk to an art gallery or a Broadway-style show as they can to a relaxing park or a trendy restaurant: “The convenience factor is great.” It also carries a sense of camaraderie. Citizens for a Loring Park Community, known as CLPC, plans neighborhood parties and charitable outings. Because there is so much activity nearby, the area can be noisy at night, especially on commercial streets like Hennepin Avenue. Street parking is often hard to find, so some residents choose to rent a spot in a nearby garage.
The neighborhood is next to Downtown West, the home of the city’s business district. Residents often commute there to work at companies like Target and U.S. Bank. It’s a little over a half mile away, and people can easily walk or bike there via Nicollet, a mile-long downtown commercial strip where no vehicles other than buses and taxis are allowed on the road. When the weather gets cold, people can use the Minneapolis Skyway System of indoor bridges to walk where they need to go. There are also Metro Transit bus stops throughout the neighborhood, with a trip downtown taking around 10 minutes. Driving is another option, but parking tends to be hard to find in Loring Park, and street-parked cars can have a hard time getting out after snowstorms.
The neighborhood’s namesake park is spacious and offers access to a fishing pier, shuffleboard courts, sports fields, an ice rink and a dog park. “It’s one of the oldest parks in the city of Minneapolis,” Brin says. “There’s a volunteer committee that keeps it in pristine condition.” The park is home to community gatherings like the Loring Park Art Festival, which blends art vendors, food and live music, and the Twin Cities Pride Festival, which includes a parade and other activities. The park also has walking and biking paths that connect to the Minneapolis Sculpture Garden and to Loring Greenway, an urban garden that connects to Nicollet.
Across from the Minneapolis Convention Center is a small green space called On The Plaza, with tables and benches where people can stop and chat. Just across South 12th Street downtown is Peavey Plaza, which hosts workout classes and concerts in the summer. Next to the plaza is Brit’s Pub, which hosts lawn bowling events on its rooftop. Brin says the venue offers a clear view of the city skyline.
People can easily reach popular restaurants in and just outside Loring Park. Some of the most well-regarded eateries nearby include:
Residents can get most of what they need within a short walk of the community, especially those who live in the northern half of the neighborhood. Lunds & Byerlys is a popular grocery store with a taco bar and other hot food options, and Target’s flagship store is roughly a half mile away. Other essentials can be found at nearby convenience stores like Walgreens.
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Christopher Wasilensky
Keller Williams Realty Integrity Lakes
(612) 261-0936
83 Total Sales
1 in Loring Park
$191,000 Price
Janelle Murlowski
P.S. Real Estate, LLC
(612) 688-9935
74 Total Sales
1 in Loring Park
$130,000 Price
Julie Christensen
Compass
(612) 260-5113
111 Total Sales
1 in Loring Park
$219,500 Price
Matthew Carlson
Realty ONE Group Destination
(833) 900-3522
58 Total Sales
5 in Loring Park
$155K - $325K Price Range
John Clay
Associated, REALTORS
(612) 688-3509
156 Total Sales
1 in Loring Park
$133,000 Price
Jessica Johnson
Coldwell Banker Realty
(612) 453-0252
127 Total Sales
1 in Loring Park
$335,000 Price
On average, homes in Loring Park, Minneapolis sell after 78 days on the market compared to the national average of 55 days. The median sale price for homes in Loring Park, Minneapolis over the last 12 months is $250,000, up 15% from the median home sale price over the previous 12 months.
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Median List Price
$223,650
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Median Sale Price
$250,000
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Median Single Family Sale Price
$141,250
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Median Townhouse Sale Price
$215,000
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Median 2 Bedroom Sale Price
$299,900
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Median Change From 1st List Price
0%
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Last 12 months Home Sales
59
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Median Home Sale Price YoY Change
15%
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Average Price Per Sq Ft
$213
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Number of Homes
1,432
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Number of Homes for Sale
49
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Median Year Built
1979
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Months of Supply
10.00
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Average Single Family Home Size Sq Ft
1,205
Significantly below the national average
1,935
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Average Townhouse Size Sq Ft
1,326
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Average 2 Bedroom Size Sq Ft
1,225
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Average 1 Bedroom Size Sq Ft
1,043
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Median Lot Size Sq Ft
29,838
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$1,241 - $3,483 per month
$1,608 - $6,648 per month
$850 - $950 per month
$1,074 - $2,199 per month
$1,619 - $5,341 per month
$1,331 - $2,397 per month
$1,342 - $2,316 per month
$788 - $1,361 per month
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Number of Homes for Rent
12
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Median Rent
$1,700
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Median Single Family Home Rent
$1,695
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Median Townhouse Rent
$1,700
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Median 2 Bedroom Townhouse Rent
$2,245
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Median Condo Rent
$1,695
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Median 2 Bedroom Condo Rent
$1,695
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Total Population
10,107
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Median Age
37
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Population Density
36 ppl/acre
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Population under 18
13.9%
Below the national average
23.8%
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Population over 65
18.1%
On par with the national average
19.1%
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|
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Median Household Income
$51,478
Significantly below the national average
$79,597
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Average Household Income
$79,066
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High School Graduates
98%
Above the national average
89%
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College Graduates
58%
Above the national average
34.1%
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Advanced Degrees
19.4%
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% Population in Labor Force
73.6%
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Annual Precipitation
31''
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Average Winter Low Temperature
9°F
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Average Summer High Temperature
83°F
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Annual Snowfall
60''
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Bikeability
Walkability
Transit
Local Logic measures the walkability, access to public transit and bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.
This community has historic mansions and access to a lake and an art center
A business district with condos, restaurants and arts venues galore
A near-downtown neighborhood with access to dining and entertainment
A popular urban part of Minneapolis known for its restaurants
A small Minneapolis neighborhood with historic brownstones and things to do nearby
A neighborhood with two distinct sides, just over a mile from downtown
