There are currently 137,139 real estate properties in Minneapolis, MN, with a median automated valuation model (AVM) price of $348,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Minneapolis, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Minneapolis, MN, is $405,767.00, with the most expensive house in Minneapolis, MN, topping out at $97,757,100.00 and the cheapest home in Minneapolis, MN, clocking in at $11,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Minneapolis, MN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Minneapolis, MN, is on a rollercoaster ride. The average rent price in Minneapolis, MN, is $1,854.00. Indeed, when looking to rent in Minneapolis, MN, you can expect to pay as little as $620.00 or as much as $5,940.00, with the average rent median estimated to be $1,790.00. The good news is that finding an affordable and desirable property to rent in Minneapolis, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Minneapolis, MN area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Minneapolis, MN and much more. Save thousands at closing with home foreclosure listings in Minneapolis, MN — up to 75% off market value!
Minneapolis is located in Hennepin, Minnesota, with an estimated municipal population of 429,606 residents. All of the best foreclosed homes for sale in Minneapolis are located in the following zip code areas on Foreclosure.com: 55403 55409 55408 55407 55406 55405 55404 55402 55401 55430 55454 55455 55418 55419 55410 55411 55412 55413 55414 55415 55416 55417 55440 55458 55459 55467 55470 55472 55474 55478 55479 55480 55483 55484 55485 55486 55487 55488. The estimated population per square kilometer (.62 miles) in Minneapolis is 3,071.
So, about how much do homes cost in Minneapolis? The most recent median value of resident-owned homes in Minneapolis is 251,821. An estimated 47.2 percent of households in Minneapolis own their homes, with an average family size of 3.16. The median household income in Minneapolis is 62,583, with30.1 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Minneapolis, the median commute time of resident workers (in minutes) is 23.2. And last, but certainly not least, are you looking for homes to rent in Minneapolis? If so, the average rent price paid by renters in Minneapolis is 1,027, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Minneapolis, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Minneapolis is 32.3, split between 50.6 percent male versus 49.4 female. The percentage of residents who report being married in Minneapolis is 34.4, with an average family size of 3.16.
The percentage of residents who report their race in Minneapolis is as follows:
|Black / African American||19.2%|
|American Indian / Alaskan Native||1.4%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Minneapolis? Or maybe you are searching for 55+ active adult communities in and/or near Minneapolis?
The percentage of residents who report their age in Minneapolis is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Minneapolis with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Minneapolis.
How do you know that living in -- or moving to -- Minneapolis is right where you need to be? Perhaps you grew up in Minneapolis or already live nearby; therefore, the decision to buy a home in Minneapolis is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Minneapolis for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Minneapolis:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Minneapolis.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Minneapolis can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Minneapolis, meanwhile, can field multiple offers from more qualified buyers.
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