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Census Tract 707, Faribault, Minnesota
Census Tract 707 is a Low-Income CommunityOpportunity Zone located in Faribault, Minnesota.
This 7.1 square milecensus tract has a population of approximately 7,200and is the only Opportunity Zone in Rice County.
The adjacent map shows the location of this Opportunity Zone in Minnesota.
Census Tract 707 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
This Opportunity Zone has a median household incomeof approximately $68,000, which is 9% lowerthan the median household income for the state of Minnesota of $75,000.
The percentage of households below the poverty line in this Opportunity Zone is 9.7%, which is 1% higherthan the rate for the state of Minnesota of 9%.
Median Home Value
This Opportunity Zone has a median home valueof approximately $170,000, which is 32% lowerthan the median home value for the state of Minnesota of $250,000.
This Opportunity Zone has a percentage of population with high school diplomaof approximately 86%, which is 8% lowerthan the rate for the state of Minnesota of 94%.
This Opportunity Zone has a median ageof approximately 37, which is 3% lowerthan the median age for the state of Minnesota of 38.
Minnesota OZ Funds
There are 6QOZ Fundsin the OpportunityDb database with an investment objective that specifically identify Minnesotaas a target market. Additional OZ funds may also invest in Minnesota; see a complete list of Opportunity Zone Funds here.
|Fund Name||Asset Classes||Property Types||Fund Size|
|Catalyst Opportunity Funds||Business, Real Estate||Affordable Housing, Commercial, Mixed-Use, Multi-Family Housing, Office, Residential, Workforce Housing||$150M|
|Connect UP! Integrated Capital Fund||Business, Real Estate||Affordable Housing, Commercial, Infrastructure, Residential, Workforce Housing||$50M|
|DREAM Fund||Real Estate||Commercial, Energy Development, Mixed-Use, Residential||$100M|
|Hospitality with real estate||Business||Hotel||$3M|
|Origin Investments QOZ Fund||Real Estate||Commercial, Residential||$200M|
|V3 Sports||Business, Real Estate||Mixed-Use|
There are no Opportunity Zone Funds in the OpportunityDb databasewith a focus specifically on Minnesota properties.