Twin Cities a good place for homeowners and sellers, study says

Home for sale in St. Paul
Home for sale in St. Paul.
MPR Photo/Nikki Tundel

A new 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.

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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.

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