Why Live in Marshall Terrace
Marshall Terrace in Minneapolis is a neighborhood that blends industrial and residential areas, attracting local creatives due to its proximity to the Northeast Minneapolis arts district. This area is known for its high concentration of studios and the annual Art-A-Whirl festival, the country's largest open studio tour. The neighborhood features early- and mid-20th-century homes, including bungalows and American Foursquares, with some new developments. Residents enjoy local attractions such as Marshall Terrace Park, which offers playgrounds, a wading pool, and bird-watching opportunities. Dining options include The Buttered Tin, known for its baked goods, and 56 Brewing, which hosts food trucks and live music. For groceries, residents can visit Sentyrz Liquor & Supermarket a mile away or the Eastside Food Co-op two miles away. Retail shopping is available three miles away at The Quarry, home to stores like Target and PetSmart. The neighborhood is about 10 minutes from downtown Minneapolis via River Road, with bike lanes and bus routes providing additional transportation options. The closest hospital, North Memorial Health, is three miles away, and the Minneapolis-Saint Paul International Airport is 16 miles away. Marshall Terrace has a competitive housing market, with homes selling quickly. The area has a crime rate lower than the national average, contributing to its appeal for families and individuals alike.
Frequently Asked Questions
Is Marshall Terrace a good place to live?
Marshall Terrace is a good place to live. Marshall Terrace is considered car-dependent and very bikeable with some transit options. Marshall Terrace has 7 parks for recreational activities. It is fairly sparse in population with 3.8 people per acre and a median age of 39. The average household income is $74,815 which is below the national average. College graduates make up 40.8% of residents. A majority of residents in Marshall Terrace are home owners, with 49.5% of residents renting and 50.5% of residents owning their home. A
local real estate agent serving Marshall Terrace can help you decide if this neighborhood is the right one for you. Learn more on our
Marshall Terrace neighborhood guide.
How much do you need to make to afford a house in Marshall Terrace?
The median home price in Marshall Terrace is $245,000. If you put a 20% down payment of $49,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $1,270 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $54K a year to afford the median home price in Marshall Terrace. The average household income in Marshall Terrace is $75K.
What are the best public schools in Marshall Terrace?
The best public schools that serve Marshall Terrace are:
What are the best private schools in Marshall Terrace?
The best private schools that serve Marshall Terrace are:
What are the most popular zip codes in Marshall Terrace, Minneapolis, MN?
What are the most popular neighborhoods near Marshall Terrace, Minneapolis, MN?
Home Trends in Marshall Terrace, MN
On average, homes in Marshall Terrace, Minneapolis sell after 40 days on the market compared to the national average of 70 days. The median sale price for homes in Marshall Terrace, Minneapolis over the last 12 months is $381,405.
Median Sale Price
$381,405
Median Single Family Sale Price
$467,908
Median Townhouse Sale Price
$381,405
Median 2 Bedroom Sale Price
$237,500
Median 1 Bedroom Sale Price
$137,000
Average Price Per Sq Ft
$199
Number of Homes for Sale
2
Last 12 months Home Sales
17
Median List Price
$245,000
Median Change From 1st List Price
0%