The capital of 10,000 Lakes. Home to 429,606 people and 16 Fortune 500 companies. Beautiful parks, local brewpubs, foodie heaven, top notch medical care, championship-winning professional sports teams, and a skyline that takes your breath away. Who wouldn't want to live here?
Minneapolis is one of the hottest markets in the entire country, ranked #1 in the Midwest. Renter-occupied households in Minneapolis make up 55% of the occupied housing units with 85% of those rental units at more than $1,000 per month. There is an abundance of neighborhoods within and outside of Minneapolis to investigate for Minnesota real estate investment opportunities. Ones to keep your eye on include:
Richfield
This suburb of Minneapolis, Minnesota real estate has been in constant population growth with 35,000 residents that currently live there. It's a seven sq. mile stretch that lives at the intersection of a small-town atmosphere and urban area with farmers markets, festivals, picnics, parks, community facilities, and highly-rated schools and businesses.
On average, properties in this neighborhood stay on the market for four days with 34 leads to choose from. According to TurboTenant's 2019 Report, there is also a 13% increase in home value.
Crystal
The area boasts more than 240 acres of green space, 27 parks, and limitless recreational activities for all ages, year-round.
This mid-sized suburb in Hennepin County has seen explosive growth over recent years. Sales closed within seven days with sellers getting an average of 101% of their original list price, meaning that bidding wars were a regular occurrence.
Central
At the heart of downtown Minneapolis, Central offers prime city living for young professionals that want to be surrounded by Fortune 500s, live entertainment, and all things food and beverage. MeetMinneapolis calls the area the place "where the party starts and ends".
Rental properties in this area are on the expensive end at $1,520 per month on average. With 4.1% cash on cash return, that is a lot of money back in your pocket.
The Minneapolis, Minnesota real estate market is one of the best housing markets in the U.S. to invest in today. Your next opportunity is waiting within one of its neighborhoods.
Not sure where to start? We got you.
Let Security Bank & Trust Co. be your guide to investing in Minnesota real estate.
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