The state capital, St. Paul, and neighboring Minneapolis make up the Twin Cities, an incredibly rich and diverse area with dramatic skylines, exciting pro sports, award-winning theater, renowned restaurants and a booming craft beer scene.
Minneapolis' population is 3.7M, with a total workforce of 2.0M. The labor market lost 4,700 jobs over the past year, down by 0.2%. The median household income in Minneapolis is $81,910, 2.9% higher than last year and 29.6% above the national average of $63,179.In the housing market, total permits issued totaled 21,679 over the last twelve months, up 20.5% year-over-year. Minneapolis has 432 active new home projects on the market, 1.4% fewer than the 438 from last year. The average list price in the market is $429,408, 2.9% lower than last year and 33.6% above the national average. Over the last three months, new home contracts decreased by 1.3% to 1,535. Lakeville and Woodbury had the highest concentration of the new home contracts in the Minneapolis market.