What’s the Real Deal With TC Real Estate?
Two seemingly conflicting stories about Twin Cities real estate market have emerged: The New York Times posted an article about what $830,000 will get you in various markets. Quite a bit, it seems. The home they featured is a five-bedroom, five-bath house with Victorian and Prairie influences in the Lowry Hill neighborhood—priced at a meager $162 per square foot. It’s a steal compared to the $365 in Charleston, SC and $222 in Huber, Utah.
At the same time, MPR News is reporting Minnesota is rated the least affordable state for housing in the Midwest. Based on a low-income housing coalition, the study says a person would have to work two full time jobs to afford a modest two-bedroom apartment in Minnesota.
It seems it’s all a matter of perspective, but what do you think? Comment below.