Like many Midwestern cities, Minneapolis has undergone a radical transformation out of necessity since the turn of the 20th century. “It’s a vibrant city known for its natural beauty and urban cultural blend,” says Ana Vogler, Realtor with Coldwell Banker Realty. “My favorite aspect of the city is its seamless integration of nature. You can go from enjoying a meal in a trendy downtown spot to kayaking or biking around the lakes.” Minneapolis was founded in Hennepin County on two distinct industries: lumber and flour. Lumber milling laid the groundwork for urban development in the 1870s before flour milling exploded a decade later as the city’s primary money-maker. Historically known as the home of General Mills, which was founded on the banks of the Mississippi River at St. Anthony Falls, Minneapolis was also the flour mill capital of the world for over a decade before the local industry faltered. Fast forward 100 years and the City of Lakes is reborn as a modern metropolis home to 18 Fortune 500 companies and headquarters for corporate behemoths like Target, 3M and United Health. Minneapolis also considers itself a welcoming city and has built a reputation as being both progressive and immigrant-friendly, with buzzing international communities in diverse neighborhoods.
Minneapolis is also home to a vibrant art scene that is fostered at the city level, by an Arts & Cultural Affairs department and an annual operating budget of almost $1 million. The city boasts an exceptional public art collection, with hundreds of works spread across different neighborhoods. Musical murals stand out in the city – for example, Bob Dylan’s career is depicted in three stages across a massive 160-foot-wide mural that stands five stories tall in Downtown West . Minnesota's late, favorite son Prince is also featured in multiple murals across the city, including the newest addition at 1st Avenue and 8th Street – a 100-foot-tall painting of different portraits taken throughout the legendary artist’s career.
The Gold Medal Flour neon sign is an iconic ornament of the Downtown East night sky.
St. Anthony Falls on the Mississippi River can be viewed from the Stone Arch Bridge.
Art A Whirl 2024_7
This mural depicting the stages of Bob Dylan's career can be found near 5th and Hennepin in downtown Minneapolis.
1/4
Competitive market with a range of housing options
In Minneapolis, the real estate market is competitive due to a persistent lack of inventory after almost a decade of under-building homes in the region. And the trend in under-building is not expected to reverse while mortgage rates remain high. In January 2024, the housing inventory was at under two months (meaning the number of months it would take for all market listings to sell), which is well below the six to seven that indicate a balanced market. “The market can be competitive, but it also offers a diverse range of options for buyers,” says Vogler, who has been selling in the city for over a decade. “There are historic neighborhoods, modern high-rises and everything in between.” The good news for buyers is that the city has a variety of price points, with an average sales price of around $400,000 for an established single-family home, which is $100,000s less than the national number. “Neighborhoods like Powderhorn Park ] or Nokomis often have great starter homes,” she adds. Homes priced near the average are especially competitive, with buyers facing intense competition for every listing. For example, prices range from the low $100,000s for a one-bedroom condo to upwards of $5 million for a five-bedroom with lakefront views. For investment-minded buyers, the median price continues to grow steadily, but not as fast as the suburbs. In the 12 months prior to April 2023, the median sales price rose 5.5% in the broader metro area, compared to a 1% bump in Minneapolis.
Well-maintained homes are a hallmark on quiet East Isles streets.
Minneapolis' Lowry Hill is home to some of its most historic homes.
High-rise condos offer the most scenic housing options in Minneapolis.
The Nokomis neighborhood has starter homes in a variety of styles.
1/4
Year-round recreation, summer swimming and winter sledding
Minneapolis is ranked annually among the top three parks departments in the country by the U.S. Trust for Public Land. The park system is robust and well-funded, with three times the total per capita spending than the average city's parks department. With a few exceptions, about 98% of residents live within a half mile of one of the city’s 180 parks. The urban landscape is painted by 22 lakes, 12 gardens and seven public golf courses. Hiking and biking are big, with the city’s miles of paved paths seeing heavy use regardless of the weather. “Residents will find year-round fun in the Minneapolis Parks system,” says Dawn Sommers, Communications and Marketing Director of the Minneapolis Parks and Recreation Board. “From golfing, boating and swimming in summer to cross-country skiing, snowshoeing and ice skating in winter.” The outdoors is celebrated by grateful Minneapolis residents year-round, with winter being a feature, not a bug. When the temperatures drop, fields are flooded to make ice rinks, walking paths become cross-country skiing trails, lakes host ice fishing and kids congregate at their neighborhood’s designated sledding hills.
Minneapolis grew around St. Anthony Falls, the only naturally occurring falls along the entire length of the Mississippi River. The river is lined on both banks with prominent parks and points of interest like the Mill City Museum in Downtown East . The city’s collective crown jewel is the recreational opportunities offered by the Chain of Lakes, a series of four lakes within city limits. The largest in the link, Bde Maka Ska translates to “Lake White Earth” in the Dakota language. The Minneapolis skyline glimmers in the distance from the Lake of the Isles. Lake Harriet has a seaside retreat vibe, with seasonal concessions, lines of quaint little sailboats, and a signature bandshell that buzzes with activity all summer. Off-limits to motorized watercraft, Brownie Lake keeps a low-profile, even among locals.
Spoonbridge and Cherry is the most iconic sculpture in Minneapolis.
Minneapolis supports the active lifestyles of its residents.
Walk the spiral walkway at Gold Medal Park for one of the best views in Downtown East.
Pond Hockey Tournament
1/4
Local grocers, eateries and the Mall of America
In many midwestern cities, shopping is done in the suburbs, but Minneapolis offers a mix of nationwide and locally owned retailers, like Target, Trader Joe's and the Minnesota-founded Lunds & Byerlys sprinkled throughout the city. When it comes to the retail consumer experience, The Mall of America (MOA) dominates. A shopping venue that demands its own app, MOA has more than 520 stores, 50 restaurants and an indoor theme park. Only four of 10 visitors are tourists, meaning that almost 60% of the foot traffic in the Western Hemisphere’s largest mall is from native Minnesotans. Another fun fact, Minnesota was green before its time, and the MOA boasts 30,000 live plants and 400 native trees that act as natural air purifiers. Lacking a central heating system, the facility’s comfortable 70 degrees is maintained through the colder months by miles of skylights, residual warmth from light fixtures and body heat from more than 40 million annual visitors.
Hidden away in the upper Midwest, Minneapolis's food scene might be the country’s most underrated. The city has long been a rich cultural melting pot, home to many different native and immigrant communities, which is reflected in the wide range of international cuisine. Minneapolis has many award-winning restaurants, unique food trucks and trendy food halls — it also has a signature dish. Not everyone agrees on its origin story, but the "Juicy Lucy" is a burger with a core of melted cheese that’ll keep buyers warm during those long lingering winters. The Land of 10,000 Lakes is also home to one of the hottest emerging beer, wine and spirits scenes out there. A growing number of distilleries and breweries dot the streets in some of the city’s most exciting neighborhoods, like North Loop .
Minneapolis is the home of Target.
The Mall of America is the Twin CIties most popular shopping center near Minneapolis.
The Kenwood is a cozy, upscale restaurant in Kenwood neighborhood.
Matt's Bar is the home of Minneapolis' most popular burger the "Juicy Lucy."
1/4
High-marks at Minneapolis Public Schools
Minnesota is a leader when it comes to school choice, with a statewide open enrollment program where students can go to school outside of their district and high schoolers can take classes part- or full-time in high school, college or online. In 2023, Minnesota became the fourth state in the U.S. to implement a Free School Meals for Kids program, which provides free breakfast and lunch options for participating public schools. In Minneapolis, most students attend Minneapolis Public Schools, which earns a B from the review site, Niche. High-performing schools are clustered in the southwest of town, with Southwest Senior High being a standout with an A-minus grade, inside the Linden Hills neighborhood. The Breck School is one of the best private schools in the state, with an A-plus grade and an intimate student-teacher ratio of 9-to-1.
Southwest Senior High School enrolls over 1,700 students in grades 9-12.
Washburn Senior High School enrolls over 1,500 students in grades 9-12.
Edison Senior High School is ranked 190th within Minnesota.
Welcome to Northeast Middle School.
1/4
Traversing the Twin Cities
Interstates converge near downtown Minneapolis, with Interstates 94, 394 and 35W connecting city neighborhoods to surrounding suburbs. The Minneapolis-Saint Paul International Airport is about 10 miles south via U.S. Highway 55 and Hiawatha Avenue. Public transportation options are robust – one of the largest systems in the country, and Metro includes light rail and bus rapid transit service covering the Twin Cities metropolitan area. The Blue Line starts at Target Field downtown and runs out to the Mall of America, while the Green Line veers off to Saint Paul. Despite what is known to be an intense winter season, cycling is popular in the city year-round. The city has 16 miles of on-street protected bikeways, 98 miles of standard bike lanes and 101 miles of off-street trails. Minneapolis is routinely ranked among the best cities for biking. Weather is never an issue when walking downtown — the Minneapolis Skyway System is a system of indoor pedestrian walkways connecting over 80 city blocks over almost 10 miles. It’s the world's second-largest of its kind and a game-changer on a frigid February morning.
Crime concerns and growing climate risks
Crime in Minneapolis is complex, with the weight of George Floyd’s death still reverberating in the city. According to FBI data, Minneapolis property and violent crime rates exceed state and U.S. figures. Between 2022 and 2023, violent crime rates dropped by about 1% and property crime rates fell by less than a percent. Some residents still feel the burden of redlining — which impacts business growth and opportunities in historically Black neighborhoods.
Climate change is an increasing environmental risk in Minneapolis, which is situated on the Mississippi and Minnesota rivers and teeming with lakes and creeks. Spring flooding from snowmelt can be severe depending on seasonal precipitation — in April 2023, some areas near Minneapolis saw river levels reach the highest in decades. About 10% of all properties in Minneapolis are at current risk — some at moderate, others at grave risk — a number that is expected to climb substantially over the next 30 years. There are other risks too — according to a study by the University of Minnesota, winters in Minneapolis are warming and summers are getting longer and hotter. The study suggests the state is warming faster than nearly any other in the contiguous U.S.
I'm an expert real estate agent with Keller Williams Integrity Realty in Minneapolis, MN and the nearby area, providing home-buyers and sellers with professional, responsive and attentive real estate services. Want an agent who'll really listen to what you want in a home? Need an agent who knows how to effectively market your home so it sells? Give me a call! I'm eager to help and would love to talk to you. I love motorcycles, food, dogs and traveling. 2018 Keller Williams Rookie of the Year!
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
