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Minneapolis real estate market overview

  • Average Monthly Rent: $1,475
  • Home Price/Value Percentage Change: 3.50%
  • Median Home Value: $267,100
  • Best Time To Sell a Home: April
  • Affordability Index: 184
  • Days To Sell a House: 65
  • Job Market: Fair
  • Public School Ranking: 6

Location and weather

Minneapolis is in southeastern Minnesota at the head of navigation on the Mississippi River near the Minnesota River. The city of St. Paul joins it on the east and forms the Twin Cities metropolitan area. Suburban communities nearby include Columbia Heights, Brooklyn Park, Plymouth, St. Louis Park, Richfield and Bloomington.

Minneapolis has a very cold winter from late November to early March with an average high temperature below 36 degrees and the average lows below 10 degrees. The summer season is from late May to early September with an average high temperature above 71 degrees and lows in the mid 60's.

Sell my house fast in Minneapolis, Minnesota

Population, job market and cost of living

The population in Minneapolis was 425,403 in 2018 with an annual growth rate of 1.03%.

The job market has increased by 1.8% over last year. The 10-year job growth is predicted to be 36.7%. The largest employers in Minneapolis are Health Care & Social Assistance, Educational Services and Professional, Scientific & Technical Services. Major companies in Minneapolis include the corporate Target office, US Bank, Medtronic medical devices, Fairview Health Services and General Mills.

The cost of living is high due to the Minneapolis real estate market with higher housing costs. While it may have a cold climate, Minneapolis continues to grow in people and in jobs with major businesses headquartered there. The Twin Cities will continue to attract more people looking for jobs and a mid-west style of living.

Minneapolis real estate market details

Hottest neighborhoods

  • Northeast Minneapolis
  • Loring Park
  • Uptown
  • Whittier
  • Bryn Mawr
  • Linden Hills
  • Downtown East
  • Ericsson
  • North Loop
  • Midtown Phillips

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