As in most parts of the country, looking for the right entry-level home has become quite a challenge in the Twin Cities. The main difficulty comes from the short supply, with home inventory – particularly starter homes – at its lowest since the recession.
If you’re a first-time homebuyer looking for an affordable property, it will help to think out of the box. Instead of confining your search to well-known residential areas in the Twin Cities, consider some of the area’s emerging neighborhoods where you can still find plenty of desirable options.
Here’s a look at some of these neighborhoods.
Located at northwest Minneapolis’ Camden Community, Folwell has been named one of the hottest “metro home markets” for 2017. The average home prices here are still well below the Minneapolis index but this could change soon, given the rising demand for real estate in the area. This family-friendly neighborhood is an ideal bedroom community, with a travel time of less than 20 minutes to Minneapolis. The housing stock is made up largely of single-family homes built in the mid-20th century, giving the neighborhood a charmingly traditional vibe enhanced by amenities like baseball parks, tennis and basketball courts, and a community park.
This tranquil residential neighborhood is found right on the shores of the Mississippi River in northwest Minneapolis, less than 10 minutes away from the city. As with Folwell, home values here are significantly lower than in Minneapolis but have been steadily rising due to the increasing demand. The housing stock is predominantly made up of 1- to 2-story single-family homes built between 1910 and 1930 along picturesque tree-lined streets. Some of Minneapolis’s highest hills are found here, providing the neighborhood with a scenic backdrop.
Located at the northeast section of Minneapolis, Windom Park is only minutes away from the big city but has blissfully maintained its small-town, away-from-it-all charm. It has an active commercial corridor in Central Avenue, giving residents quick access to urban amenities. Home values in the neighborhood have been rapidly rising but buyers can find plenty of options with properties coming in a wide range of prices. Single-family homes dominate the eastern quadrant, while multifamily properties are abundant in the western quadrant, particularly around Central Avenue.
Sitting on the border of St. Paul and Minneapolis, Highland Park is a desirable neighborhood that’s fast becoming a popular choice among homebuyers. The good news is, Highland Park properties come in a wide range of prices, offering options to buyers of various budgets. While there are upscale homes priced well above the Minneapolis average, there are also more affordable properties that pack in plenty of small-town charm. The neighborhood’s namesake park offers a wide array of activities and attractions, and the stunning Minnehaha and Hidden Falls are just minutes away.
This charming south Minneapolis neighborhood is located between Lake Nokomis and Minnehaha Falls Park, giving residents plenty of outdoor recreational opportunities. With its rich natural surroundings and longtime local businesses, Minnehaha has a rustic, country feel, yet is a convenient 20-minute drive to Minneapolis. Real estate values here have also been rising but remain generally affordable.
If you’re looking for a starter home in the Twin Cities, we can help you find the perfect property in the neighborhood that meets your needs and preferences. Home sellers can also call Scott Haubrich at (612) 298-5400 or send an email to scott(at)buyrentsell(dotted)com.