Rent to own Homes in Minneapolis, MN

Buying a Home in Minneapolis, MN

Minneapolis, MN is seeing rapid growth and Minneapolis, MN's' housing market remains not optimal with an average home price that is 23% above the 2024 national average. Minneapolis, MN is part of Hennepin county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Hennepin is 1.14% which is above the national average, which is 0.99%.

Top Reasons to Live in Minneapolis MN

Housing The median value of homes in Minneapolis is $228,700, with an average listing price of $375,875 and a median sales price of $204,952. There are currently 1,383 homes for sale, with 2,061 recently sold and 3,433 properties in some stage of foreclosure. The average rent in Minneapolis is $1,068, with the highest rates in the neighborhoods of Midway, Kentwood, and Saint Anthony. Just over 56 percent of homes in Minneapolis are owner-occupied, while nearly 44 percent are rentals. The vacancy rate is below the national average at just 3 percent, indicating that demand is high in this prosperous city. One option for aspiring homeowners in a tight economy may be a rent to own home.

Tourist Attractions Minneapolis is a thriving Midwestern city. History buffs will enjoy visiting a number of historic homes, including the Alexander Ramsey House and the James J. Hill House, as well as Historic Fort Snelling, which dates back to the 1820s and the days of the fur trade. The Minnesota Historical Society, meanwhile, is comprised of a whopping 27 award-winning museums and trails. Boat, kayak, and even Segway tours are all unique ways to tour the Minneapolis waterfront. Thrill seekers won't want to miss Minneapolis theme parks, including Nickelodeon Universe, Valleyfair Family Amusement Park, and the Wild Woods Water Park. Meanwhile, animal lovers will love the Como Park Zoo and Conservatory, the Minnesota Zoo, and the Sea Life Minnesota Museum. Nature lovers won't want to miss a stop at the Minnesota Landscape Arboretum, the state's largest public gardens. And don't forget to take in a show at the Tony Award-winning Guthrie Theater.

Nightlife

Minneapolis has some great nightlife. Hip clubs, chic bars, live music venues, and sociable pubs all make up a thriving after-dark environment. Most of the action happens Uptown, where popular bars include Muddy Waters, known for its addictive yucca fries; Liquor Lyle's, a classic dive bar with old school red glitter booths; and Lucia's Wine Bar, offering a rotating menu with seasonal fare. The Warehouse District is coming on strong thanks to several new clubs, as well as its convenient location adjacent to the University of Minnesota. A great destination for al fresco dining and Happy Hour deals, hot spots in this revitalized area of the city include "it bar" Bar Fly, Blues Alley and Chez Bananas, as well as the uber-romantic Bev's Wine Bard and up and coming gay bar, Brass Rail. Northeast also has a rousing bar scene, but with a grittier sensibility. Favorites include former Esquire "Best Bar in America" Nye's Polonaise Room and polka party central, Gasthof Zur Gemutlichkeit. Northeast is also a great neighborhood to catch live music at hipster haunt the 331 Club or pop into party bus must-stop Tony Jaros' River Garden. And where else can you find a "zombie bar," except at Donny Dirk's, which also has leopard skin carpeting.

Neighborhoods The country's 16th biggest city, Minneapolis has a dynamic population of 3.5 million people. The many communities of Minneapolis offer different flavors of neighborhood living. Popular Minneapolis neighborhoods include the following: