The economy of the Twin Cities is heating up! It’s a great time to look at investing in Minneapolis single-family rentals, and here’s why: Minneapolis-St. Paul has one strongest economies in the Midwest. Regional employment is driven in part by large-scale employers like Cargill and 3M, as well as by the Target Corporation, United Healthcare, and the fourteen other Fortune 500 companies headquartered in the Twin Cities. These large companies drive steady employment in the area, helping to bolster strong local economic conditions.
Other factors making Minnesota attractive to SFR investors are the redevelopment opportunities provided by the future home of the Minnesota Vikings – the new U.S. Bank Stadium located in Downtown East. The stadium brings with it thousands of new jobs, and the associated revitalization of this neighborhood means increased revenue will pour into the area. Best of all, this stadium will be the location for the 2018 Super Bowl, which ensures a huge injection of tourism-related revenue into the local economy in less than two years’ time.
Property prices are still reasonable in the Twin Cities, which means many investors are buying now, before prices rise in the future. You can learn more about the economic climate in the Twin Cities area by downloading the latest local market research report compiled by HomeUnion®’s data services team.