Since the city has an expansive educational sector, many students also live in the downtown area in one bedroom lofts or in shared apartments with friends to reduce costs.
Many individuals who come to the city to work or study and are not natives of the city are constantly faced with the dilemma of renting or buying a home in the city.
The average rent of an one bedroom apartment in Minneapolis is around $900 – $1000 per month and the average for two bedrooms is $1241.00 per month; real estate analysts state that it is roughly 40 percent cheaper to buy a house rather than renting.
Condos and lofts in Minneapolis
The downtown Minneapolis area offers homebuyers a wide variety of lofts and condos which can be used as ideal and safe retirement homes and family residences with basic to full service amenities.
Buyers can select from inexpensive condos made out of refurbished warehouses and also from luxury condos with terraced gardens and landscaped lawns designed out of historical mansions.
The downtown residential area is a mix of lofts designed out of historical warehouses and modern buildings. The largest concentration of lofts and condos are in downtown center of North Loop, Mill City-Riverfront District, Loring Park, Elliot Park and also Loring Heights.
Single family residences in Minneapolis
Though most of the information available online for home buyers in Minneapolis will show lofts and condos, the city has beautiful townhouses in or near the lakes and also the Mississippi River with walking and biking trails ideal for residents. The Minneapolis single-family homes range from one story, one & half story to two stories from historic to new construction.
Grand Rounds National Scenic Byway via Minneapolis Park & Recreation Board
If you are looking to buy a condo, loft, townhouse, or a single-family home in Minneapolis, feel free to call Realty Group, Inc.-Shannon Lindstrom, REALTOR®, AHWD, CRS, GREEN at 612-616-9714 or [email protected] today.