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Minneapolis-St. Paul is the most affordable large metro in the nation

  • ​Minneapolis-St. Paul has an median home sale price of $240,000 and a median family income of $90,400, making it the most affordable place to live among the nation’s 20 largest metros. Overall, workers in the Twin Cities earn 19 percent more than the workforce in other large metros, yet homes cost 35 percent less compared to peer markets. Out of all homes currently for sale in the MSP metro, 78% are affordable to a family making the median income.

  • The last time we published this analysis was two years ago in 2016. Since then, the median cost of a Minneapolis-St. Paul home has climbed from $205,000 to $240,000. Yet in 2016, Minneapolis-St. Paul homes were only 3% cheaper than the large metro average. While the cost of housing has increased in most of the U.S., local growth is tempered compared to markets like San Francisco where the median home sales price is now $1.3 million. 

Source: JLL Research, National Association of Homebuilders (NAHB) Housing Opportunity Index

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