A city that combines culture, scenery and a thriving local economy doesn’t have to be one of the largest. Minneapolis, a mid-sized metropolis in the Midwest, checks off the basic must-haves and more. Beyond being a top locale for Fortune 500 companies, the larger of the Twin Cities displays endless natural beauty across seven massive lakes, lined with scenic jogging routes and parks, and holds one of the largest park systems in the U.S. The bike sharing system is top-notch, while foodies can satisfy both healthy and hearty cravings for Midwestern grub across the city’s diverse dining scene.
The City of Lakes provides more than a well-rounded lifestyle. It also offers investment opportunities for those who choose to settle down in the area. According to Zillow’s Home Value Index, the median home value in the Minneapolis-St. Paul metro area is affordable at $221,100. However, home values increased 7.8 percent in the past year, and are forecasted to rise another 3.5 percent through 2017.
Presently low interest rates, market affordability and projected rising values are concrete reasons to search for homes in Minneapolis sooner, rather than later. Consider the following three towns and new home communities near Minneapolis that might be a good fit for your next home purchase.
Located approximately 30 miles southwest of the city, Cologne fuses an easy commute with a tight-knit local atmosphere. Known for its small-town and welcoming demeanor, Cologne is home to around 1,500 residents ranging from young families to established retirees. For buyers in the area, the Village at Cologne is a single-family development with home prices ranging from $270,000 to slightly over $390,000 for homes between 1,774- to 3,083-square-feet. Additionally, a new section, Village at Cologne North, has been added that features 1-level villas priced from $260,000. With four outdoor parks, serene ponds, miles of trails and striking landscaping, this community delivers a comfortable lifestyle at an affordable price point.
Another suburb of the Twin Cities, Dayton, is a short 35-minute drive from the downtown area – creating an easy daily drive for Minneapolis workers. In the tranquil River Hills community, first-time homebuyers can easily transition into the ownership routine to homes where snow removal is covered by the association – a welcome relief for new buyers during the harsh winters. Aside from the numerous parks and ponds in the neighborhood, River Hills will soon feature an underpass that connects to the shores of the Mississippi River.
Although technically sitting across the Minnesota border, Hudson is part of the greater metro area and is just 30 minutes east of downtown Minneapolis and 15 minutes from St. Paul. Hudson’s positioning in the St. Croix River Valley provides locals with several outdoor activities, including swimming, boating, fishing, golfing and hiking – even outdoor concerts hosted at the picturesque Lakefront Park. For the chillier winter days, the charming downtown area is sprinkled with retail boutiques, antique shops, restaurants, museums and galleries. Despite Hudson’s immense historic appeal, its population is up almost 50 percent since 2000 and it’s now home to 13,400 residents, making it one of the fastest growing areas in the state. The former Hudson Golf Club is now Carmichael Ridge, a newly-built community containing single-family homes, villas and detached townhouses priced between $280,000 and $400,000. Each residence features sophisticated interiors outfitted with laminate wood floors and stainless steel appliances with customizable touches to make you feel right at home.
Whether you settle in the bustling downtown area or a new home community nearby, the Minneapolis metro area is an opportunity to plant your career, family and financial roots for years to come.
** Jennifer Riner writes about rentals, home improvement and design for Zillow.