For aspiring Rent to Own buyers, Minnesota offers a wide range of opportunities to perfect suit your specific needs and desires. For young families looking to purchase their first single family home or condo, average home prices near hip metro areas are still well within the grasp of middle class buyers of all ages. For retirees and avid outdoors lovers, the opportunity Rent to Own in Minnesota offers people looking to purchase second homes on lakefront property is unmatched anywhere. With an initial investment smaller than some time shares, you can get started on owning a second home in the vast and beautiful Minnesota wilderness.
What's Makes Minnesota Special?Minnesota is a northern state that borders Canada and is a haven for anyone who loves fresh water living and activities. Major rivers run through the state, and lakes of all shapes and sizes dot the landscape by the thousands--so much so that having lakeside property is more common than other states. The North Star State is famous for its wheat products, farming, trade, and agriculture, but also introduced America to modern retail shopping by inventing the indoor mall. Major industries in the state include retail, food processing, bioscience, manufacturing, renewable energy, finance, and healthcare. Population growth averages at about 0.7 percent annually. Job growth in Minnesota continues at 1.5 percent and unemployment sits at 3.7 percent. Median household income in Minnesota is $47,111 and the median family income is $56,874 annually.
Minneapolis, MN. Via University of MinnesotaWhat is Real Estate Like in Minnesota?
Average Minnesota home values currently hover around $179,900 and are on pace to grow at a steady 2.3 percent over the course of the next year according to Zillow. This is pretty close to the national average. A solid housing market and strikingly low unemployment rates that drive wages make Minnesota a smart place to put down roots. Some of the most popular metro areas in Minnesota are Minneapolis, St. Paul, Duluth, and Rochester.
Minnesota is a vast landmass with everything from extensive rural wilderness to dense urban areas, so getting a holistic understanding of its education picture can be difficult. Primary and secondary school rankings are above average throughout the state, with many of the best schools concentrated near the Twin Cities metro area. Minnesota has notable universities such as the University of Minnesota, St. Cloud State University, University of St. Thomas, Walden University, and Minnesota State University, Mankato.
Minnesota is among the safest states in the nation, especially among those with a higher population than many Big Sky states in the west. Neighborhood Scout notes that violent crime affects 2.34 people per 1000 residents, below the 3.8 per 1,000 residents national average. Property crime affects 24.2 per 1,000 residents and is also lower than the 27.3 national average.
Glacial Lakes, MN. Via Midwest Glacial Lakes PartnershipCulture and Entertainment
Minnesotans have a broad range of fun activities readily available to them. They include the Mall of America, Lake Minnetonka, Cathedral of St. Paul, Mill City Museum, and Walker Art Center. As a state with so much lakefront available, water activities are also a large part of recreational opportunities, whether it’s boating in the summer or ice skating in the winter. People enjoy the open air and nature here, and love to be active in outdoor activities. The local tastes are a blend of homestyle cooking with northern cuisine like fish and fresh vegetables. And for beer drinkers, there are several craft breweries mixing up local wheat beer to hone your taste buds.