Market Overview
Location and Weather
St. Paul is situated in the southeastern part of Minnesota at the headwaters of the Mississippi River near the Minnesota River. It joins Minneapolis on the west and they’re known as the Twin Cities. The winters are very cold and snowy with the average high temperatures below 36 degrees and the low temperatures less than 10 degrees. Summer season lasts almost 4 months from May to September with high temperatures above 71 degrees and with lows in the mid 60’s.
Population, Job Market and Cost of Living
St. Paul’s population in 2018 was 307,695 with an annual growth rate of 0.80%. The job market has increased by 1.8% over last year. The ten-year predicted job growth is predicted to be 35.9%. This is close to the average growth of U.S. cities.
Contributing to St. Paul’s job growth is a large base of manufacturing, Health Care & Social Assistance and Educational Services. Eco-Lab, which does energy technologies and services and 3-M Construction & Engineering are the major companies in St. Paul and provide many jobs for the area. The cost of living is moderate due to the St. Paul real estate market with affordable housing.
With cold winters and beautifully temperate summers, a moderate cost of living and growing population, St. Paul is a thriving place to live and work.
Real estate market data in St. Paul
Average Monthly Rent:
$1,241
Percentage Change in Home Price/Value:
2.50%
Median Home Value:
$221,300
Best Time To Sell Home:
July
Affordability Index:
184.1
Days To Sell House:
65.958
Job Market:
Fair
Public School Ranking:
6
