Property Makler
Advanced analytics for residential real estate investing

Minneapolis-St. Paul-Bloomington, MN-WI housing market

Housing market indicators

Indicator	2022	2023	2024	2025*	2022	2023	2024	YTD
Median Listing Price per Square Feet	$208	$212	$212	$210	6.7%	1.9%	0%	-0.9%
Active Listing Count	5,592	5,736	6,195	8,700	9.6%	2.6%	8%	40.4%
Median Days on Market	57	55	59	41	14%	-3.5%	7.3%	-30.5%
Share of listings with price increase	1.6%	0.9%	0.9%	0.9%
Share of listings with price decrease	11.3%	12.1%	13.1%	14.1%
Employees, thousands	1,952	1,976	1,993	2,007	1.3%	1.2%	0.9%	0.7%
Permits	1,317	1,163	1,147	1,702	-41.6%	-11.7%	-1.4%	48.4%

* last available value

Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED

The Minneapolis-St. Paul-Bloomington Metropolitan Statistical Area (MSA) spans 15 counties across Minnesota and Wisconsin, with a 2024 population estimate of 3,757,952 and density of 205.9 per km².
Core urban centers include Minneapolis (428,579 residents) and St. Paul (307,465), forming the "Twin Cities" hub.
Key geographic regions: Central urban core (Hennepin and Ramsey Counties), western suburbs (Hennepin suburbs like Plymouth), eastern suburbs (Washington County areas like Woodbury), southern suburbs (Dakota County cities like Eagan), northern suburbs (Anoka County like Blaine), and exurban/western WI extensions.
Annual population growth 2020-2024: 0.43%, driven by suburban expansion.

Area	City/Town	Population	Density (per sq mi)	Income	Quality of Schools (GreatSchools range)	Crime Level	Property Tax (%)	Comments
Central Urban	Minneapolis	428,579	7,000+	Low-Med	3-8	High	1.2%	Diverse, vibrant but challenged by crime.
Central Urban	St. Paul	307,465	5,000+	Med	4-9	Med-High	1.3%	State capital, strong cultural amenities.
Southern Suburbs	Bloomington	88,344	2,200	Med-High	6-10	Low-Med	1.1%	Mall of America hub, retail jobs.
Western Suburbs	Plymouth	81,026	1,200	High	7-10	Low	1.0%	Affluent, corporate offices.
Eastern Suburbs	Woodbury	75,102	1,500	High	8-10	Very Low	1.1%	Fast-growing, family-oriented.
Northern Suburbs	Blaine	70,222	1,800	Med-High	5-9	Low	1.2%	Retail, National Sports Center.
Southern Suburbs	Lakeville	69,490	1,300	High	7-10	Very Low	1.1%	Exurban growth, good commutes.
Southern Suburbs	Eagan	68,855	2,000	Med-High	6-9	Low	1.1%	Airport proximity, business parks.
Northern Suburbs	Brooklyn Park	86,478	3,500	Med	4-8	Med	1.2%	Diverse, industrial base.
Western Suburbs	Maple Grove	70,253	1,600	High	7-10	Low	1.0%	Retail boom, family appeal.

To view all table columns, please open this table on a laptop or desktop screen.

Median household income MSA-wide: approximately $85,000, higher in suburbs ($100,000+ in Plymouth, Woodbury) vs. urban core ($60,000 in Minneapolis).
Per capita income: $45,000 average, with top suburbs exceeding $50,000.
Bachelor's degree or higher: 42% MSA-wide, peaking at 60%+ in western suburbs like Plymouth; urban areas around 40%.
Labor force: 2,102,456, with strong participation in professional services.
Age distribution: Working-age (20-49) dominates at 1.5 million; 65+ at 620,720.
Racial diversity: 71% White, 9% Black, 7% Asian, growing Hispanic at 6%.

Healthcare and biotech: Major employer, with Mayo Clinic influence and Medtronic HQ.
Finance and insurance: U.S. Bancorp, Ameriprise in Minneapolis.
Professional/business services: High concentration, corporate HQs in suburbs.
Manufacturing: 3M, General Mills, strong in food processing.
Retail and logistics: Mall of America, Target HQ driving suburban jobs.
Tech/emerging: Growing software, with companies like Best Buy.

Zoning: Suburban areas more open to single-family construction; urban Minneapolis restrictive with inclusionary policies.
Regulatory strictness: Moderate; environmental reviews slow projects, but state pushes density via upzoning.
Construction workforce: Labor shortages increase costs 10-15% above national average; union wages high.
Land availability: Exurbs like Lakeville have ample lots; core urban land scarce/expensive.
New permits: 15,000+ annually, focused on multifamily in suburbs.
Material costs: Stable but elevated due to supply chain issues.

Net migration: Positive +10,000 annually, from coastal cities seeking affordability.
Growing industries: Tech/biotech expansion in western suburbs boosts white-collar influx.
Healthcare growth: Aging population drives demand in southern/central areas.
Remote work: Post-pandemic shift favors spacious suburbs over urban cores.
Declining sectors: Minimal; manufacturing stable, no major outflows.
Family migration: High birth rates in suburbs sustain single-family demand.

Inventory shortage: Under 2 months supply, pushing median prices to $380,000.
Affordability gap: Urban rents high at $1,800/month; suburbs better at $1,500.
High interest rates: Slowed sales 20% from 2022 peak.
Zoning barriers: NIMBY resistance in high-income suburbs limits multifamily.
Crime in core: Deters urban investment, shifts demand outward.
Property taxes: Among highest nationally at 1.1-1.3%, burdens fixed-income buyers.
Climate risk: Flooding in river valleys, winter maintenance costs.

Area	Appreciation Potential	Risk	Key Drivers
Western Suburbs (Plymouth, Maple Grove)	High	Low	Corporate growth, top schools, low crime, migration in.
Eastern Suburbs (Woodbury)	High	Low-Med	Rapid population growth, family appeal, new construction.
Southern Suburbs (Lakeville, Eagan)	Med-High	Low	Exurban expansion, airport jobs, land availability.
Northern Suburbs (Blaine, Brooklyn Park)	Medium	Med	Retail strength offset by diversity/crime variability.
Central Urban (Minneapolis, St. Paul)	Med-Low	High	Crime, taxes hinder; redevelopment upside long-term.