One of the most livable and underrated cities in the US
Discover Minneapolis's Real Estate
The largest city in Minnesota, Minneapolis forms the largest part—along with St. Paul—of the Twin Cities metropolitan area, home to 3.63 million people. Despite ranking near the top of most lists of the most livable cities in the United States, Minneapolis remains an underrated gem—except by the people lucky enough to live there. With a healthy economy, abundant greenspace and thriving neighborhoods, Minneapolis’ charms are unlikely to remain undiscovered for much longer.
Culture, History, and Business
Minneapolis was built around the Saint Anthony Falls—the highest waterfalls on the Mississippi—which provided power to the lumber, flour and other mills that were built nearby during the latter half of the 19th century. The flour mill industry was especially crucial, with grain from the Great Plains brought to the city to be turned into flour. Companies like General Mills and Pillsbury were founded during this period and helped turn Minneapolis into an important industrial center. The early 20th century was a time of upheaval, with the city the scene of a corrupt administration, violent labor disputes and notoriously discriminatory housing laws.
However, Minneapolis has put much of that troubled period behind it and is today one of the most successful cities in the country. It is a major business center and boasts a thriving economy, especially in finance, healthcare, retail, technology, insurance and food processing. Major companies like Target, US Bank and Ameriprise Financial are all headquartered in the city itself and Minneapolis has become the second-largest economic center in the Midwest after Chicago.
Real Estate Appeal
Minneapolis’ real estate appeal is very strong due to a combination of factors. The city’s diverse and advanced economy is attracting newcomers, especially young workers and families. Neighborhoods are experiencing significant appreciation in property values as a result, with the city’s historic inner districts seeing especially rapid gains. The city routinely ranks as one of the best in the country in terms of quality of life, which is helping to further push up home prices.
Minneapolis is also home to a large student population, most of whom study at the University of Minnesota, one of the largest university campuses in the country. Combined with a growing tourism sector, these factors make Minneapolis a particularly strong rental market. Returns on rental income are healthy and the demand for rentals is expected to grow as rising house prices force its young population to put off home ownership for longer in favor of renting.
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