Minnesota - Real Estate
Move to Minnesota
Known as the "Land of 10,000 Lakes," most Minnesota residents are within walking distance of one of the vast parks and trail systems that encircle the many lakes and Mississippi River shore. Recognized by the United Health Organization as the healthiest state in the country, Minnesota is a rare balance of cosmopolitan cities and a clean environment known for its fresh air and lush scenery. In fact, Minneapolis contains the only scenic byway located entirely within an urban area, allowing you to navigate around the city on a winding complex of beautiful trails. Known for its high quality of life and affordable living, it is easy to see why residents of Minnesota are proud of a home that is a great place to live, work and play.
A majority of the state’s residents are homeowners who take advantage of the low cost of living and affordable housing available to them. From small towns and farmland to comfortable single-family homes in city suburbs, real estate in Minnesota covers all prices ranges, from starter and vacation homes in the low 100’s to large ranches at $500,000 and more. The median sale price for a home statewide is $217,100. In the larger metropolitan areas, Minneapolis for example, a 3 bedroom, 1,500 square foot condo averages around $299,000. One of the appeals of living in these urban areas is that all this value is a mere stone’s throw away from some of the most beautiful, rugged recreational terrain the country. The “Twin Cities” of Minneapolis and St. Paul are the two largest cities in the state with more than 770,000 people between them. The next three most populated cities are Duluth (the largest fresh-water port in the world), Rochester and Bloomington with more than 85,000 people each.
With an overall cost of living of 12% below the national average, many newcomers are welcomed by Minnesota’s prosperous economy, affordable living and higher than average wages. Minnesota’s bustling cities are a testament to its strong economy. The area ranks eighth in the number of Fortune 500 corporations and education and income levels rank among the highest of major cities in the country. The world-renowned Mayo Clinic is just 60 miles from the Twin Cities, and the entire area is known for its excellent medical facilities, outstanding schools and a strong business climate. In the more rural areas, Minnesota is rich in natural resources, producing more than 75% of the nation's iron ore as well as numerous farm products including corn, wheat, butter, eggs, milk, potatoes and livestock.
The climate may not be Minnesota's best asset; winters are long and snowy, spring is brief and summers are hot. However, outdoor enthusiasts take full advantage of the opportunity for winter sports, skiing and hunting. As for the summer sun, Minneapolis, Minnesota has more golfers per capita than any other city in the country and its many local lakes offer up breathtaking boating and fishing landscapes. Minnesota is also home to a rich cultural environment with the world-acclaimed Minnesota Orchestra, the Saint Paul Chamber Orchestra, Minnesota Opera Company and St. Paul's picturesque Ordway Theater. The nationally-acclaimed Guthrie Theater is one of more than 100 live theaters in the state. For shoppers and tourists, the Mall of America, with its unique shopping and indoor amusement park, draws visitors from throughout the world. And enthusiastic sports fans enjoy Minnesota Vikings football, Minnesota Twins baseball, Minnesota Wild hockey, Minnesota Timberwolves basketball and Big Ten action at the University of Minnesota.
To learn more about specific communities in Minnesota, request a Free Relocation Packet prepared by a HomeRoute Preferred - local community expert. This exclusive guide will be customized to your specific home search and help you prepare for your upcoming move to Minnesota.
Information provided courtesy of HomeRoute.