How are the rental markets in and around Minneapolis?

[Bryce Veazey]

Hello everyone, my name is Bryce Veazey and am new to real estate. My wife and I are looking to move to a more affordable market to get into real estate and Minnesota is on the list. I'm hoping to network with locals to identify which areas could would be best. Looking to stay in or around an hour from the twin cities. Thanks for all the help! 

[Todd Dexheimer]

Understand that Minnesota, especially the twin cities, is a much different environment than Utah. MN is not landlord friendly and has become much, much worse over the past 5 years, especially Minneapolis and St Paul. Not trying to say that you shouldn't invest, just understand what you are getting yourself into. 

Beyond the political environment, MN is a slow/steady market. Expect low population growth, low rent growth, but stable prices. We typically don't see big swings up, which means we don't see big swings down. 

Sub Markets to look at - Growth is happening along I-94 Maple Grove and NW, Southwest side, Woodbury, Hudson, Somerset, New Richmond. Also, south along I-35 in Apple Valley/Farmington area. 

Outside of the cities, Rochester is solid