Single Family Management
There are 21 property management companies in Minneapolis, MN 8 Companies specialize in Single Family property management. 11 Companies specialize in Multi-Family property management. 9 Companies specialize in HOA property management.
The average rent for a 3 bedroom house in Minneapolis, MN is $1,419.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
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Minneapolis, MN Property Management Companies
Recently ranked by Move.com as one of the "ten greenest cities" in the U.S., Minneapolis is "obsessed" with things such as clean air and water, renewable energy, public transportation, and green space, according to the study. Originally a mill town, Minneapolis is still home to General Mills and the Pillsbury Company, as well as several other Fortune 500 companies, including Target and Qwest. It is the major business center for the area between Chicago and Seattle. Offering a variety of cultural, shopping, and dining opportunities, Minneapolis is a highly desirable place to live.
Minneapolis Rental Market Trends
Like many other cities, Minneapolis was hard hit by the recent economic crisis and housing market collapse. As jobs disappeared and personal incomes dwindled, many middle-class citizens found themselves suddenly unable to make their monthly house payments. Foreclosure rates skyrocketed, displacing many former homeowners, and, at the same time, banks revised their lending practices, making it much more difficult for younger members of the population to purchase homes.
Given the shaky state of the economy, even those who can afford to purchase homes often prefer the relative "security" of renting, knowing that their financial commitments are limited to the terms of their leases. Demand for rentals, including everything from luxury apartments to single-family homes, is rising rapidly, while vacancy rates have plunged to around 2% in many parts of the city.
Minneapolis Rental Market at a Glance
|Population||3.3 million||380 million|
|Percentage of renters||27.57%||34.0%|
|Rental vacancy rate||5.91%||8.4%|
|Median house price||$113,500||$185,400|
Finding Minneapolis Property Management Companies
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Home to more than 3.4 million residents, Minneapolis-Saint Paul is the primary business center between Chicago and Seattle. But unlike the gridlocked nine-to-fivers in the Windy and Emerald cities, Minneapolis commuters remain surprisingly unconventional about their daily modes of transportation. According to a recent study by the Brookings Institute, half of these citizens work in the city where they live, but 60% rely on carpools or alternative transportation--including foot. That's probably because Minneapolis offers more than seven miles of enclosed pedestrian skyways that connect eighty downtown blocks. Beyond these enclosures are 85 miles of former rail trails and an additional 92 miles of on-street bike lanes that make it easy to ride between the workplace and 84 nearby neighborhoods.
Linden Hills is one of the best examples of walkable neighborhoods in Minneapolis, but the eclectic shops and distinct restaurants make it feel further removed from nearby downtown. The neighborhood sits between Lake Calhoun and Lake Harriet, so it also offers easy water access for canoeists and kayakers. Spanning Lowry Hill East and East Isle is Uptown, a trendy and popular commercial district frequented by artists, musicians and young professionals. While Uptown's median age remains less than 30, the demographics are shifting with gentrification, which could imply that the residents of this region are settling down, building out--but riding on. The popular Midtown Greenway bike path cuts through the middle of Uptown and connects with downtown Minneapolis. As a former warehouse district, the revitalized North Loop is a perfect trendy neighborhood for freshly-minted professionals, young couples and diehard Twins fans. This neighborhood features the new Target Field and an assortment of older theaters and popular restaurants. North Loop runners and cyclists can always find trail access along the Mississippi River. Additional neighborhoods in and near Minneapolis include:
|St. Anthony West
St. Anthony East
East Bank/Nicollet Island
Humboldt Industrial Park