Cost of Living in Minneapolis vs midwest (Eden Prairie, Lakeville: apartments, foreclosures)

[golfgal]

Originally Posted by Reese30

Why would educational attainment impact real estate prices? I thought "supply and demand" impacted housing costs moreso than just about anything else. I do see the relevance of economic strength and salaries. Educational attainment may be related to the other factors you listed, but I don't think most real estate professionals are concerned with how many degrees their potential customers have as long as they are in good financial standing, and make enough money to afford the mortgage (or rent, if leasing).

Going back to the thread topic, I think the Twin Cities area is a bit more expensive than the majority of the midwest (just slightly below Chicagoland) due to the strong corporate presense in the area, which has attracted an abundance of people to The Cities, thus, increasing the demand for housing.

The poster means that the schools are better in MN. Supply and demand are exactly what drives prices. Houses in better school districts are in higher demand.

[Beenhere4ever]

Originally Posted by Reese30

Why would educational attainment impact real estate prices? I thought "supply and demand" impacted housing costs moreso than just about anything else. I do see the relevance of economic strength and salaries. Educational attainment may be related to the other factors you listed, but I don't think most real estate professionals are concerned with how many degrees their potential customers have as long as they are in good financial standing, and make enough money to afford the mortgage (or rent, if leasing).

Going back to the thread topic, I think the Twin Cities area is a bit more expensive than the majority of the midwest (just slightly below Chicagoland) due to the strong corporate presense in the area, which has attracted an abundance of people to The Cities, thus, increasing the demand for housing.

Prices of real estate are sensitive to the money buyers can bid on housing. A more-educated state will usually have a higher median income. More money, costlier housing. Get way out in the hinterland, and you'll probably find cheaper houses. Brokers can't sell for more money than there is out there.

Went to a site that gave current median income figures. Minnesota median income exceeds every state around it, plus places like Indiana and Ohio. MN is $56k, while Arkansas is $38k. Guess where houses will cost more.
http://www.deptofnumbers.com/income/minnesota/

[mkdude_08]

It could also depend on where specifically in Minnesota. EP is one of the more expensive suburbs (we live there), however, it's quite a bit cheaper in the burbs which lie a bit south (Prior Lake, Shakopee, etc.). Yes, Minneapolis is more expensive than places like where you're coming from but isn't anywhere near the expense of places like Boston, Chicago, etc.

[JoeyBagoDonuts]

It's impossible to compare cost of living in MO vs the Minneapolis area.

Downsides: We moved here in 2003 from California and were surprised how expensive it is here. In 2004 we had a house built in Carver (Carver County), 20-25 mi southwest of the city. We sold due to ever increasing taxes. Before we finished our basement our home had 1650 sq ft of finished living space and the taxes were still $4,000. We finished the basement and they shot up to about $5,000 per year. That's insane. Carver County is very pretty but there's little industry so homeowners carry the tax burden. Carver County does have some very nice parks with some great off-leash dog parks, too. Don't move t Carver County unless you make a lot of money and don't mind paying high property tax. Oh, it also has the most expensive city water. Summer water bills were easily $200/mo to keep a 9-10,000 sq ft lot green. The things you learn....

Also, Minnesota Nice is a MYTH. A friend of ours summed it up best: "Minnesota Nice is their way of saying F.U. with a smile." We've never understood why people here are such snobs. Maybe it's a Scandinavian trait?
The friendliest people I know here are not native Minnesotans. They're from Wisconsin, South Dakota, etc.

My work takes me all over the country so I feel qualified to say the drivers here are some of the rudest I've encountered. A common observation my wife and I (and many of our acquaintances) have made is when you signal to change lanes, the cars behind you speed up to block your move. It's ridiculous.

That said, there are some nice areas. The bike paths, jogging trails, etc, are all very nice.

[Min-Chi-Cbus]

Take it from JoeyBagoDonuts, and remember to just fugetaboutit!

[xandrex]

Originally Posted by JoeyBagoDonuts

It's impossible to compare cost of living in MO vs the Minneapolis area.

Downsides: We moved here in 2003 from California and were surprised how expensive it is here. In 2004 we had a house built in Carver (Carver County), 20-25 mi southwest of the city. We sold due to ever increasing taxes. Before we finished our basement our home had 1650 sq ft of finished living space and the taxes were still $4,000. We finished the basement and they shot up to about $5,000 per year. That's insane. Carver County is very pretty but there's little industry so homeowners carry the tax burden. Carver County does have some very nice parks with some great off-leash dog parks, too. Don't move t Carver County unless you make a lot of money and don't mind paying high property tax. Oh, it also has the most expensive city water. Summer water bills were easily $200/mo to keep a 9-10,000 sq ft lot green. The things you learn....

Also, Minnesota Nice is a MYTH. A friend of ours summed it up best: "Minnesota Nice is their way of saying F.U. with a smile." We've never understood why people here are such snobs. Maybe it's a Scandinavian trait?
The friendliest people I know here are not native Minnesotans. They're from Wisconsin, South Dakota, etc.

My work takes me all over the country so I feel qualified to say the drivers here are some of the rudest I've encountered. A common observation my wife and I (and many of our acquaintances) have made is when you signal to change lanes, the cars behind you speed up to block your move. It's ridiculous.

That said, there are some nice areas. The bike paths, jogging trails, etc, are all very nice.

It's so good that you can't compare the costs...but offer no actual advice.

You must be from somewhere in northern California or something if Minnesota seems expensive. Housing is more expensive than most of the Midwest, but it's a bargain compared to the coasts.

Carver is a wealthy, exurban county. Only Hennepin exceeds it for per capita income. I'm sure that also means the residents expect a certain level of service and with that comes a cost.

Typical Minnesota Nice trolling. You can move along now.

I'd challenge your assumption that the nicest people are from Wisconsin and South Dakota. Most of the surrounding states have a very similar culture. Most of Wisconsin would be indistinguishable culturally from Minnesota (minus the Cheeseheads, of course). If anything, the Wisconsin friends I have are more passive aggressive than Minnesotans.

And finally, Minnesota drivers are kind to a fault. So that's how I know you're trolling. They're not always the greatest drivers, but almost all of them will slow down to an insane level to let you in a lane. And if you've ever seen 2-4 cars reach a stop sign at the same time, you'll see the fun dance natives make as they all wave each other to go first.

[phlinak]

Originally Posted by JoeyBagoDonuts

A common observation my wife and I (and many of our acquaintances) have made is when you signal to change lanes, the cars behind you speed up to block your move. It's ridiculous.

Originally Posted by xandrex

And if you've ever seen 2-4 cars reach a stop sign at the same time, you'll see the fun dance natives make as they all wave each other to go first.

In my TC driving experience, I've found both of these statements to be true.

So I guess that means that some TC drivers are ***holes and some are very courteous. Just like drivers everywhere, wow, amazing!

[todd00]

Hi JoyTodd, Giving up the land would be the hardest part for me. Have you looked out by Anoka? That's about a 35 minute commute to EP. Don't give up hope on a house with some land. I been snooping around on Realtor.com and found one with 5 acres, 3 bedroom, similar square footage to your place, it's 265k, so not a huge difference there. So don't give up hope, best of luck on your move.

19840 W Ford Brook Dr Anoka MN - Home For Sale and Real Estate Listing - MLS #4196063 - Realtor.com®

[1stpontiac]

Originally Posted by todd00

Hi JoyTodd, Giving up the land would be the hardest part for me. Have you looked out by Anoka? That's about a 35 minute commute to EP. Don't give up hope on a house with some land. I been snooping around on Realtor.com and found one with 5 acres, 3 bedroom, similar square footage to your place, it's 265k, so not a huge difference there. So don't give up hope, best of luck on your move.

19840 W Ford Brook Dr Anoka MN - Home For Sale and Real Estate Listing - MLS #4196063 - Realtor.com®

That's a pretty nice looking place, although more like an hour to Eden Prairie, especially with traffic.

Might be worth it though, to you.

[Rockin Cowgirl]

Joytodd, just replying back. The hour would be to Eden Prairie. Minneapolis is about an hour and a half. Hutch is on MN highway 7. You can take I494 to 7, or take U.S. 212 to 41 at Chaska, or 212 to 22 at Glencoe. 41 and 22 are connectors between 7 and 212. Also, golfgal's suggestion of going south of the (Minnesota) river is also good. New Prague, Belle Plaine, Jordan, anything in Scott or Dakota County will get you far enough out of the cities to get some land but close enough to commute. I like that area. The river valley is beautiful(can be flood prone though) and the people are friendly.