| GREAT NEIGHBORHOODS: MINNEAPOLIS/ST.PAUL | ||
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 Photo courtesy of the Greater Minneapolis Convention Visitors Bureau |
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With virtually 1,000 lakes, approximately 30 theatrical venues, the giant Mall of America in close proximity and among the friendliest, safest and cleanest cities in the United States, many consider Minneapolis/St. Paul heaven with snowplows. After numerous years of steadily rising prices, the real estate market is beginning to thaw, which adds to the good news. With the median home price dropping about $20,000 to about $220,000, now what was once decidedly a seller’s market has become more buyer-friendly. The formerly skyrocketing rental market, finally loosening as vacancy rates rise, has held steady for the last year with an average rent of about $900 per month for a single-family home. In St. Paul, a vintage fixer in the emerging urban neighborhood of Midway can be found for $125,000. Only 13 miles west of Minneapolis, the chi-chi Minneapolis suburb of Orono, known as the Jewel of Lake Minnetonka, boasts estate homes that sell for well over a million dollars and single family homes with an average sale price of $325,000. A variety of neighborhoods capture the Twin Cities eclectic character. There’s Minneapolis's serene, tree-shaded Linden Hills; the culturally active and mixed West Side in St. Paul; and two Minneapolis suburbs, exclusive Edina and well-rounded, burgeoning Minnetonka. |
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