Prospect Park is a neighborhood of 8,619 people in Minneapolis. This skews young, with a median age of 24.3. This is an unusually credentialed place: 78% of adults have a four-year degree. 20% of homes are owner-occupied. The poverty rate is 40.7%, above the 12.5% national rate. That trails the Minneapolis median by roughly 40%. These figures are approximated by combining the 2 census tracts that make up Prospect Park; the Census Bureau does not tabulate data for neighborhoods directly.
At a glance
Lower income
median household income $48,215, below the US median
US median: $82,259
Younger
median age 24.3
US median: 38.9
More educated
78% hold a bachelor's degree
US average: 36%
Renter-heavy
20% owner-occupied
US average: 65%
In context
Prospect Park compared with Minneapolis
Measure
Prospect Park
Minneapolis
Difference
Median household income
$48,215
$80,846
40% lower
Median home value
$524,864
$362,200
45% higher
Homes that are rented
80.0%
52.3%
+27.7 pts
Bachelor's degree or higher
78.0%
55.5%
+22.5 pts
Poverty rate
40.7%
16.0%
+24.8 pts
Foreign-born residents
21.4%
13.7%
+7.7 pts
Median age
24.3
33.4
9.1 years younger
Section 01
Population & growth
Total population
8,619
Population density
7,292 / sq mi
US average: 281
Median age
24.3
US average: 38.9
Land area
1.18 sq mi
Section 02
Income & economy
Median household income
$48,215
US average: $82,259
Per capita income
$35,835
US average: $44,673
Households earning $100K+
31.2%
US average: 53.3%
Poverty rate
40.7%
US average: 12.5%
Income inequality (Gini)
0.534
US average: 0.476
Workforce by industry, 2024
Retail trade8%
US avg: 9.9%
Other services5.4%
US avg: 6.7%
Information5%
US avg: 10.8%
Public administration3.6%
US avg: 4.8%
Finance & insurance3.4%
US avg: 5.9%
Arts, entertainment, food3%
US avg: 1.9%
Professional, scientific, technical2.9%
US avg: 5.1%
Wholesale trade1.2%
US avg: 6.9%
Transportation & warehousing0.9%
US avg: 2.2%
Education & health services0.5%
US avg: 0.9%
Agriculture, forestry, fishing0%
US avg: 1.6%
Construction0%
US avg: 1.2%
Manufacturing0%
US avg: 0.4%
BAR + DOT: THIS PLACE · TICK: US AVERAGE
Section 03
Housing
Median home value
$524,864
US average: $376,019
Median gross rent
$1,428
US average: $1,442
Owner-occupied
20.0%
80.0% rent
Vacancy rate
13.2%
US average: 10.0%
Persons per household
2.13 people
US average: 2.54
Owner cost-burdened
24.4%
US average: 22.9%
Renter cost-burdened
54.0%
US average: 47.4%
Afford Score
10.9
Years of local income it takes to buy a local home, on a scale of about 0 to 15. Lower is more affordable.
Section 04
Race & ethnicity
2024
White, non-Hispanic58.4%(5,032)
Black10.3%(887)
Hispanic / Latino5.5%(470)
Asian19.8%(1,709)
Other6%(521)
2024
White, non-Hispanic58.4%(5,032)
Black10.3%(887)
Hispanic / Latino5.5%(470)
Asian19.8%(1,709)
Other6%(521)
Diversity Score
75
Our index, 0 to 100. Higher means a more even mix of racial and ethnic groups.
