A new Interest.com study said that the Twin Cities housing market is nationally a good place for home buyers and sellers - median incomes and median home prices are such that we have an economic environment that's ripe for home ownership.
More from Interest:
Herb Tousley, director of real estate programs at the University of St. Thomas in Minneapolis, says a combination of factors work in the Twin Cities' favor.
One is a median income of $67,194, which is nearly $15,000 higher than the national average and also significantly above the average for the 25 biggest cities.
"We've got a pretty diverse economy here, a lot of medical tech, a lot of corporate headquarters," Tousley says, "so a fair number of people have a higher income."
The metropolitan area also has a large base of homes that fall within the range of those making a median income. "We have a big tranche of what I call middle-class, middle-priced homes," says Tousley.
On The Daily Circuit, we look at what this study means for our local housing market and take audience realty questions.
Before you keep reading ...
MPR News is made by Members. Gifts from individuals fuel the programs that you and your neighbors rely on. Donate today to power news, analysis, and community conversations for all.