Do people in Minneapolis not rent? (Brownsville: section 8, apartment complexes, rental homes)

[EugeneBKLYN]

It seems like 99% of the city lives in 2 story family homes...
are there any 4-5 story apartment buildings around the city, besides the obvious downtown?

[yellowsnow]

Most of the 4 or 5 story buildings are IN the cities area. Lots of condos/loft type places to rent close to the downtowns too. Home ownership is affordable here compared to NYC so more people buy.

[rcsteiner]

Originally Posted by EugeneBKLYN

It seems like 99% of the city lives in 2 story family homes...
are there any 4-5 story apartment buildings around the city, besides the obvious downtown?

There are tons of apartment complexes in the suburbs, most of them lengthy 1-3 story buildings with heated underground garages and such.

Why the interest in taller buildings? Do you *like* hauling stuff up stairs? :-)

[Navelinski]

Originally Posted by EugeneBKLYN

It seems like 99% of the city lives in 2 story family homes...
are there any 4-5 story apartment buildings around the city, besides the obvious downtown?

Outside of the city of Minneapolis itself, most of the apartment buildings are three stories or less.

Up until a couple of years ago, we had a housing shortage around here, but not any more. Good apartments are all over the place. Is there any particular reason why you want to live so high off the ground?

[nick is rulz]

Id rather rent than buy. Too much responsibility, and as far as paying $450 a month to live there is no way I could get a mortgage for that.

As far as the investment standpoint of a rental vs a home, I just put extra money into an IRA.

[midwest456]

Nick, are you limited to 450 a month? A couple years ago I ordered a free Twin Cities apartment guide in the mail from one of the main online sites (can't remember which but it was rent.com. forrent.com, one of those). Most of the ones under 500 were Section 8 housing. I am hoping to find something decent for 650-700 myself. I do know I visited a friend in St Paul 3 years ago who had a loft in the building by the farmer's market in downtown St Paul (props to anyone who can tell me what that place is called because I dont recall). It was a studio, not much of a bathroom but a big window and plenty of space. He said he paid 600 a month for it. It would probably be more like 700 now. It was a solidly built hi rise building with elevators, parking and I was surprised how quiet it was when I crashed at his place overnight. This was on a Saturday night in early summer.

[nick is rulz]

limited to that nah. I pay $330 currently for a nice spot in Uptown. $450 starting next month. I could realistically probably afford $600-$700 but I would have to cut back on evenings out, and why would I want that?

My place would be $900, but my girlfriend and I will split the cost.

[EugeneBKLYN]

Originally Posted by nick is rulz

limited to that nah. I pay $330 currently for a nice spot in Uptown. $450 starting next month. I could realistically probably afford $600-$700 but I would have to cut back on evenings out, and why would I want that?

My place would be $900, but my girlfriend and I will split the cost.

Is the rent going higher all over the city, or is it just in the place you're renting?

Originally Posted by nick is rulz

Id rather rent than buy. Too much responsibility, and as far as paying $450 a month to live there is no way I could get a mortgage for that.

As far as the investment standpoint of a rental vs a home, I just put extra money into an IRA.

I agree, 100%. Renting is better in the longhaul.
Especially in places like Minneapolis, which are prone to tornadoes, large hail, etc

Originally Posted by Navelinski

Outside of the city of Minneapolis itself, most of the apartment buildings are three stories or less.

Up until a couple of years ago, we had a housing shortage around here, but not any more. Good apartments are all over the place. Is there any particular reason why you want to live so high off the ground?

Interesting.
Well, the reason is that I'd really feel awkward living in a rental HOME, as opposed to an apartment unit.

Even tho most rental homes are probably far superior.

Originally Posted by rcsteiner

There are tons of apartment complexes in the suburbs, most of them lengthy 1-3 story buildings with heated underground garages and such.

Why the interest in taller buildings? Do you *like* hauling stuff up stairs? :-)

No, I'm just used to living in apartment buildings. And most residential building *here* have something called an "elevator". :-)

Originally Posted by yellowsnow

Most of the 4 or 5 story buildings are IN the cities area. Lots of condos/loft type places to rent close to the downtowns too. Home ownership is affordable here compared to NYC so more people buy.

From what I've seen in pictures, the city looks like a huge suburb with a downtown.

[EugeneBKLYN]

By the way, this is what I'm used to looking at:



Not this:

[nick is rulz]

your first post looks a lot like Stevens or Phillips areas. Phillips used to be pretty bad, but most of it has turned around fairly well....still not a super prime spot but certainly not what it was even 5 years ago. Stevens isnt bad, lots of art students live there since MCTC is in the neighborhood. Of course, these areas are based on Minneapolis perspective. In comparison to say...Brownsville or Bed-Stuy, the worst Minneapolis neighborhood would seem laughable.


and in response to rent going higher, mines going up because Im moving. For the most part, its gone up some but not drastically citywide.