Moving to Minneapolis, MN

This post was updated on April 17th, 2023 with most recent trends and data.

Thinking about moving to Minneapolis?

• Minneapolis At-a-glance 
• What it’s like to live in Minneapolis 
• Economy and job outlook in Minneapolis 
• Real estate in Minneapolis 
• The top neighborhoods in Minneapolis 
• How to get around in Minneapolis 
• School and education snapshot
• Weather and climate in Minneapolis 
• 10 can’t miss things to do in Minneapolis 

Minneapolis At-A-Glance

Minneapolis might be the best mid-sized city in the country — if it weren’t for the winters. Minneapolis boasts a fantastic chain of lakes and parks, an educated population with a great school system, a roaring and diverse economy, and an abundance of excellent bars, restaurants, cafes, breweries, museums, and theaters. And if that weren’t enough, there’s the more historic St. Paul right there.

While the winters are indeed rough, they’ve likely helped keep the city from being quite as swarmed with millennials as other hip destinations have been. Still, Minneapolis’s reputation is out: the number of residents in the city’s urban core hit 56,748 in 2022, which marked an increase of 1.2 percent over the prior year. 

Aside From the Cold, Why Living in Minneapolis is So Cool

Forget the cold, here’s why living in Minneapolis is cool. You get a big city feel with walkable neighborhoods and more than 270 parks. In fact, the city’s park system was ranked fifth best in the country in 2022 by Trust for Public Land. And as the “land of 10,000 lakes” you can choose from more than 14,000 bodies of water for fishing, kayaking, paddle boarding, waterfall chasing, hiking, camping and windsurfing.

More of a sports person? You betcha. Take your pick from cheering for the Minnesota Wild hockey team, donning a Vikings’ hat for a football game or rooting for the Timberwolves in NBA basketball. In the spring and summer you can catch a Twins baseball game with the beauty of the Minneapolis skyline before you. 

With an abundance of things to do, museums to visit, restaurants to frequent and outdoor spaces to explore, Minneapolis is an excellent place to live for every stage of life. It’s no wonder why almost 3 million people call one of the twin cities their home. 

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The Economy is a Diverse Ecosystem Where Anyone Can Thrive

According to MN.gov, Minneapolis-St. Paul rank as the 7th most diverse economy among all 384 metropolitan areas in the U.S. Because of a strong foundation of talented workers, innovation and technology, infrastructure and quality of life, there are many Fortune 500 companies headquartered here, including UnitedHealth Group, Target, Best Buy, 3M, U.S. Bancorp, General Mills, Hormel, Land O’Lakes, and more. In fact, the state has the most Fortune 500 companies per capita in the U.S. As a result, the economy is booming and there are plenty of jobs to choose from. 

What Minneapolis’ economy is most known for is a diverse ecosystem where anyone can thrive. A surprising fact about Minneapolis is that women in business thrive here, having the highest percentage of business ownership in the country. Industries like agriculture and manufacturing have a home here as well as FinTech and small businesses. Despite having a large manufacturing presence, Minneapolis is also a top green destination because of the city’s focus on being bike-friendly and walkable. 

Unemployment rate: 3.2% (as of February 2023)

Average weekly wages for all industries: $1,230 (as of August 2022)

You May Have a Hard Time Finding Affordable Housing in Minneapolis

One of the drawbacks of all of Minneapolis’s growth and livability are its relatively high housing prices. Between January 2023 and March 2023, 33 percent of homebuyers were looking to move out of Minneapolis, while 67 percent planned to stay. The median home value in Minneapolis is $305,528, 18 percent below the US median value, according to Zillow. The median price per square foot in Minneapolis is $197. Over the past five years, home values in Minneapolis have increased by a whopping 41 percent. 

Renters in Minneapolis will also have a hard time finding affordable housing. The median rent in Minneapolis is $1,660 per month, which is 13 percent higher than the previous year. And with the median home price creeping higher, more and more renters are losing confidence in being able to afford owning a home there.

Minneapolis is an expensive place to live with an average cost of living. According to RentCafe, Minneapolis’ cost of living is 1 percent higher than the state average but 1 percent lower than the national average.

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Tons of People Are Flocking to These Neighborhoods

A laid-back vibe and big-city amenities, you can’t go wrong living in Minneapolis. Here are the best neighborhoods in Minneapolis that so many people are flocking to:

Linden Hills: Excellent schools, parks and greenspaces dot this popular and upscale neighborhood that is a hit with families. High standards and even higher budgets make this neighborhood an ideal location for those with money to spend. 

Hale: If you’re looking for a highly livable area (that is more cost-effective), don’t miss Hale. Locals love it for the affordable housing and shopping along Chicago Avenue. You’ll also have your pick of two large Farmers Markets to browse each week.  

Loring Park: Young professionals and couples without children love Loring Park for its greenspace, appealing hot spots and variety of apartment-style living. And its proximity to the city center means it’s easy to get to restaurants, bars, entertainment venues and events. 

North Loop: The North Loop – also known as the Warehouse District – is the neighborhood for those looking for more of a hip vibe. Old factories and warehouses have been converted into sophisticated loft apartments, coffee shops and trendy restaurants. If you want to be in the center of the action, the North Loop is it. 

Fulton: Friendly neighbors and a small-town feel is what you’ll find in Fulton. Aside from excellent schools and a vast array of housing options (and budgets), this area boasts a ton of great food, boutique stores and upscale restaurants.

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Traffic Can Be Difficult, Especially During Winter

Ask anyone who lives in Minneapolis what the city’s biggest problems are and traffic will almost certainly be one of them. According to a survey conducted by INRIX, the average commuter in Minneapolis spends 26 hours in traffic each year, which is 47 percent higher than the previous year. 

Another problem that makes travel especially difficult? You guessed it: the weather. Former Gov. Jesse Ventura pioneered a Light Rail that expands from the city into the suburbs, which helps city dwellers navigate during winter weather. And if you have to venture out of the city, the MSP International Airport was named the best in the U.S. for 2022. Because of its central location, most cities are less than a four-hour flight away. 

Education in Minneapolis is a Work in Progress

While the state of Minnesota has some noticeable education gaps, the schools do fairly well. In Pre-K-12 education, the area ranks relatively high on standardized test scores and graduation rates. One thing to note? These have been declining year over year. More work needs to be done to improve the quality of Minneapolis public schools.

When it comes to higher education, the Twin Cities offer something for everyone. Whether you are looking for an urban setting or something rural, big or small, public or private, the postsecondary options offer students a variety of choices after high school. A few noteworthy institutions include the University of Minnesota, Twin Cities and the University of St. Thomas (MN).  

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Allergic to Cold? Don’t Move to Minneapolis

If you’re allergic to cold weather, Minneapolis might not be for you. Minneapolis winters are freezing, snowy and windy. You can expect an average temperature of 19 degrees during winter. Summers in Minneapolis are warm-ish, with an average temperature of 71 degrees. The average temperature in spring is 46 degrees and the average temperature in Fall is 48 degrees.

If you’re moving to Minneapolis, you better bring your umbrella! Minneapolis sees an average 117 rainy days per year, and has an average annual rainfall of 30.6 inches. Minneapolis is relatively humid, with an average annual relative humidity of 68. And don’t sweat it if you forget to pack your sunglasses. Minneapolis only gets an average of 2,711 sunny hours per year and 95 sunny days, fewer than much of the rest of the country.

Summer average (June – Aug): 81°F high, 62°F low

Winter average (Dec – Feb): 27°F high, 13°F low

10 Can’t-Miss Things to Do in Minneapolis

Forget the lakes, Minneapolis is the home of music royalty including Prince and Bob Dylan. Your action-packed schedule must include these 10 can’t miss things to do in Minneapolis:

1. Celebrate the art, music, fashion, and culture at Paisley Park, inspired by the visionary creative spirit of Prince.
2. Spend an afternoon walking among the art found at the Minneapolis Sculpture Garden. As a bonus, it’s free!
3. Walk along the Stone Arch Bridge, which was constructed in 1883 and is the only stone bridge along the entire Mississippi River. 
4. Find out what a Jucy Lucy is at either Matt’s Bar or the 5-8 Club. Come hungry: legend has it that it’s the best cheeseburger in town. 
5. For an outdoor adventure, stroll through the Chain of Lakes Regional Park, which includes everything from a beach, volleyball courts, paddleboarding, canoeing, kayaking, ice skating and ice fishing. 
6. Hike up to a waterfall at Minnehaha Falls, which also offers river swimming and a giant dog park for your furbaby. 
7. Laugh out loud to amateur comedy for free on Mondays at the ACME Comedy Company. 
8. Visit Betty Danger’s Country Club for cool drinks, miniature golf, Ferris wheel, and a garage featuring art from local artists.
9. Hit up MinneMile, which is a spoof of Chicago’s iconic shopping street (Magnificent Mile), and features dozens of locally owned shops selling a little bit of everything. 
10. Enjoy a live show at First Avenue, which was made famous by Prince, and is a legendary venue that defined the country’s music history.

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Editor’s Note: This post was originally published on September 28, 2017 and has been updated for accuracy and comprehensiveness.