$452,448Average Value$379Average Price per Sq Ft2Homes For Sale
Historic urban village near the University of Minnesota
Sitting at the geographic center of the Twin Cities, Prospect Park winds its way up the northern side of the Mississippi River. “It’s one of a handful of places in the metro where the neighborhood doesn’t fall on the grid, giving it a different feel,” says Michael Korby, a Realtor with Edina Realty Inc., who’s been in real estate for 24 years. “It’s a wonderfully central location: easy to get downtown. You can dip down to take advantage of the recreation along the riverfront, and it’s close to the University of Minnesota and all the amenities there,” says Korby, who used to live in Prospect Park. Along with an up-and-coming industrial district, this neighborhood features historic homes from the late 1800s. Prices range from $200,000 to $850,000.
Prospect Park offers scenic views of the Mississippi River and downtown Minneapolis.
Washington Ave in Prospect Park will lead you to downtown Minneapolis.
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Picturesque architecture along the Mississippi River
A blend of single-family homes from the late 19th century to the mid-20th century creates the distinct look of modern-day Prospect Park. Along the waterfront, buyers will find stately Queen Anne, Colonial Revival and Tudor Revival designs with a few modern builds sprinkled in for between $600,000 to $900,000. The large, manicured front lawns here have mature trees providing shade and privacy from the sidewalk-lined streets. On the other side of Interstate 94, prices are lower with most homes falling into the $210,000 - $600,000 range. Houses here sit closer together on medium-sized lots of varying elevations with smaller setbacks. Korby’s business partner, Julie Glass, says buyers may have to consider the long game: “There are people who will just wait until the right thing comes along because there’s not a lot of movement within the neighborhood,” says Glass, who’s also a Realtor with Edina Realty, Inc.
Prospect Park is home to a variety of Colonial Revival homes.
Tudor style homes add to the whimsical architecture of Prospect Park.
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Panoramic city views at “Witches Hat” water tower
Greenspaces dot the neighborhood, but Tower Hill Park is the most notable. Often cited as Minneapolis’s highest natural land area, the steep paths here lead to the iconic “Witch’s Hat” water tower. The historic structure, named for its green tiled conical roof, opens to the public one day a year during the Pratt Ice Cream Social. Residents climb more than 100 stairs for panoramic views of the city. Over at Luxton Park, there are athletic fields, a playground, wading pool, and recreation center. Down at the Mississippi River, residents can walk or bike the forested trails along the East River Parkway.
The Prospect Park Water Tower at Tower Hill Park is known as the Witch's Hat Water Tower.
The bikes stay out after dark with so many dedicated trails throughout Prospect Park.
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Dining options around University Avenue
A block from Huntington Bank Stadium is Stub and Herb’s, a campus landmark since 1939. It’s a game day go-to for sports fans who pack its relaxed dining room for brews and pub fare. On University Avenue, the highly acclaimed Tea House Chinese Restaurant serves authentic Sichuan specialties in an elegant dining room with antique chairs. For a variety of cuisines, locals head to the Market at Malcolm Yards, an industrial building turned trendy food hall, before walking to Surly Brewing Company and O’Shaughnessy Distilling Company for drinks. Homecooked meals start at Fresh Thyme Farmers Market, where residents can pick up local produce and the essentials.
Stub and Herb's Cocktails & Dining Emporium has been a Prospect Park staple since the 1930's.
Colder months in Prospect Park, warm up next to the fire at the Market at Malcolm Yards.
Prospect Park residents multi-task while enjoying the fares off Washington Ave.
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Fire & Ice Festival
Heralded for its cohesive community spirit, Prospect Park has the city’s first-ever community association hosting events year-round from yard sale days in the summer to Harvest Fest in the fall. A big neighborhood tradition started in 1995. Every first Saturday in February, neighbors gather at Luxton Park to burn their holiday trees and wreaths in a big bonfire — no matter the weather. Known as the Fire & Ice Festival, the family-friendly event also has live music, food and horse-drawn hayrides.
Luxton Park is a great place for a game of fetch in all seasons.
Mississippi River Parkway has a bike line for bikers.
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Education begins at Pratt Community School
Young students can start at Pratt Community School, which receives a B-minus grade from Niche. The elementary school dates to 1898 and is a point of pride here with a 10-to-1 teacher ratio and its annual Pratt Ice Cream Social. Students can move on to Northeast Middle School and then Thomas Edison High School. Both schools have a C-plus grade. Another option is Venture Academy, a charter school that provides personalized learning to help students overcome barriers.
Northeast Middle School prepares each student for future college and careers.
Thomas Edison High School serves students in grades 9-12.
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Getting around Prospect Park
With bike lanes on major arteries like West River Parkway, Prospect Park is considered a biker’s paradise. Sidewalk-lined streets make it easy to walk around. There are also light rail stations, and bus stops providing access to both downtowns. It’s about 4 miles to downtown Minneapolis and 8 and a half miles to downtown St. Paul. Minneapolis–Saint Paul International is about 9 miles away via Interstate 94.
Prospect Park residents rely on their bikes for daily transportation.
Grab your board and head down Washington Ave to grab some food in Prospect Park.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Interested in learning more about homes in this area?
Reach out to
Mark Hronski,
an experienced agent in this neighborhood.
Parks in this Area
East River Flats Park
Picnic Area
Trails
Playground
Luxton Park
Picnic Area
Trails
Playground
Riverside Park
Baseball/Softball
Basketball
Bike Trails
Tower Hill Park
Tennis
Trails
Chergosky Park
Grills
Picnic Area
Playground
Franklin Oval Park
Multi-Purpose Field
Transit
Airport
Minneapolis-St Paul International/Wold-Chamberlain
21 min drive
Bus
University Ave SE & 23rd Ave (Huron)
Bus
Franklin Ave SE & Seymour Ave
Bus
Ontario St SE & Beacon St
Bus
Franklin Ave SE & Arthur Ave
Bus
University Of Minneapolis
Bus
23rd Ave SE & Transitway & 6th St SE
Bus
Oak St SE & University Ave SE
Prospect Park Demographics and Home Trends
On average, homes in Prospect Park, Minneapolis sell after 98 days on the market compared to the national average of 70 days. The median sale price for homes in Prospect Park, Minneapolis over the last 12 months is $343,400, down 5% from the median home sale price over the previous 12 months.
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Interested in learning more about homes in this area?
Reach out to
Mark Hronski,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has More Renters
Demographics
Total Population
10,881
Median Age
27
Population Density
15 ppl/acre
Population under 18
21%
On par with the national average
23.8%
Population over 65
5.3%
Below the national average
19.1%
Finances
Median Household Income
$41,971
Significantly below the national average
$71,702
Average Household Income
$66,472
Education and Workforce
High School Graduates
95.8%
College Graduates
74.7%
Significantly above the national average
34.1%
Advanced Degrees
37.3%
Above the national average
13.3%
% Population in Labor Force
66.5%
Weather
Annual Precipitation
31''
Average Winter Low Temperature
9°F
Average Summer High Temperature
83°F
Annual Snowfall
60''
Area Factors
Very Bikeable
Bike Score®
84/ 100
Very Walkable
Walk Score®
73/ 100
Good Transit
Transit Score®
58/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
