Good news for first time home buyers in Minnesota! A new Zillow survey ranked one of ours as a top city for home buyers! Which one? That would be telling!
Here’s Five Fast Facts About Minnesota’s Home Buying Ranking:
- 🏡 Third Place - Zillow ranked Minneapolis third in its rankings of the top cities for first time home buyers.
- 🏠 Qualified - The ranking used factors like median household income spent on rent, listed home with a mortgage cost of no more than 30% income, and the ratio of for-sale to renter households.
- 🏠 Low Low - In Minneapolis, the median income spent on rent is 20% and 48% of homes for sale are considered affordable.
- 🧱 Not Too Bad - The median home value in our state is $312,872, which is up 1.5% over 2023.
- 🏚️ Call OCP? - St. Louis came in first, followed by Detroit. Both of those cities, coincidentally, are in the top five cities with the most murders. Robocop was set in Detroit for a reason. It’s up to you to decide which of the top three is most appealing. Hint: Minneapolis.
🔥Bottom line: Another solid win for Minnesota! The best part is that Minneapolis doesn’t have the problems or concerns that face the two cities above us.
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