Why So Many People Are Moving to Minnesota

Believe It or not, Minnesota consistently ranks fairly high on the list of best places to live and is actually growing in popularity. In this article, I’ll explain why so many people are moving to Minnesota.

If you’re not familiar with Minnesota, we’re more than just flannel shirts and snow shovels 
We also have tater tot hot dish. Okay we have other stuff that sets Minnesota apart like Awe-inspiring nature, a diverse economy, and a real shot at the American dream – I’m talking about homeownership and the pursuit of happiness. As a mortgage loan officer in Minneapolis, I talk to a lot of people who are moving to Minnesota and many of my realtor partners are working with individuals and families moving to Minnesota as well. 

Minnesota Jobs and the Economy

Let’s talk about jobs and the economy because if you want to support your family, Minnesota is a great place to do that. In light of the recent Us credit downgrade, it’s worth mentioning that Minnesota has the highest credit rating possible from all three credit rating agencies.  Compared to our neighbor Wisconsin which has less than perfect credit and Illinois which is almost junk status.

 
One of the reasons for that is our ability to collect taxes – Minnesota does have high taxes compared to some other states but we put that to good use. At the same time we’re still able to attract businesses, we’ve got a diverse economy, and more Fortune 500 companies per capita than any other state.

Inflation and Housing

Obviously inflation and housing prices are out of control in most parts of the country but Minnesota is actually doing pretty well. In fact a recent Bloomberg article was just published reporting Minnesota to be the first American city to tame inflation through affordable housing. This is a huge win for the state and Minneapolis in particular and it started a few years ago with the 2040 plan which incentivize more Housing Development and has become a template for other cities to do the same thing. As of May 2023, the article states that the Twin Cities is the first major metropolitan area to see inflation fall below the federal government’s 2% Target which is 1.8% in Minnesota.

One way we make homes affordable is through our Minnesota housing finance agency which allows you to get up to $18,000 to purchase a home anywhere in the state. If you’re living in the Twin Cities and your earning the median income of $124,000 Per year according to Fannie Mae you can afford or at least qualify for a mortgage to purchase a home which is not so easy to do in other parts of the country.
This is part of where our taxes go is to bring down the cost of living for the really important stuff like housing, food, clothing, education, Healthcare or make it easier to start a business.

In fact the state of Minnesota is literally giving money to businesses and startups in the form of Grants and low interest loans totaling over $200 million dollars to grow and expand businesses.

Minnesota Family and Culture

Of course money isn’t everything and many people are moving back to Minnesota to be with friends and family. Hundreds of people move back to Minnesota every year to be closer to family. You may have grown up here and moved away for work or school but home is where the heart is. Plus those palm trees are too exotic and the food is too spicy in those warm states. The Midwest is much more balanced for your sensitive palate.

In addition you may have moved away during covid for remote work and now your employer is kindly asking you to return to the office. In fact a USA Today reports that 90% of companies are expected to require employees to work in person part time or under a hybrid model by the end of next year. Well it was fun while it lasted.

Politics

As you might know Minnesota votes Democrat and is mostly blue within the Twin Cities, however leans more conservative in the rural areas that surround the metro area. Given a more Progressive and liberal environment, Minnesota is seen as a more inclusive state among people looking for a safe haven from conservative laws and biases since Minnesotans pride ourselves on equal rights, freedom of expression, and tolerance towards others.

Healthcare

If you’re looking for a reason to not live in the south look no further than Healthcare the Commonwealth Fund has a really interesting report which ranks States on healthcare and Minnesota ranks number 11 which is okay, Wisconsin ranks number 21. It’s very interesting to see the stark contrast between things like preventable deaths, medical debt, and maternal mortality rates in Minnesota compared to States like Mississippi, Alabama, Texas, Arkansas, Arizona and other states which look like third world countries compared to Minnesota.

Education

Education is super important and in general Minnesota and it’s school’s rank pretty high For quality of Education. The National Education Association ranks Minnesota number 10 in best public schools.

Art and Music

What a lot of what a lot of people don’t know about Minnesota is because we are big on education and inclusiveness, we have a really awesome art and music scene. The Uptown Art Fair, Art-a-whirl, Minneapolis Institute of Arts, which is like one of my favorite places to hang out, are just a few examples
We have iconic music venues like First Avenue and 7th Street entry, Palace Theater, the Cedar Cultural Center, the Turf Club, Orpheum Theater, the Guthrie Theater, and the Minnesota Orchestra and many more.

Food

The food scene is something that will really surprise you because it’s so diverse of course I mentioned tater tot hotdish which is a staple, but between Minneapolis and St Paul you can get just about any type of food you want. 

Minnesota Weather

No conversation about Minnesota would be complete without talking about the weather but now we have to take it one step further and include climate change in that discussion.  We all know Minnesota gets cold and we get a lot of snow but it’s not all bad. We find ways to enjoy the snow, dress properly, and go skiing or ice fishing. At the very least, cuddle up with a fire, a drink to keep you warm, and use the cold as an excuse to be lazy.

The best thing is the fact that we really do have all four seasons and nothing helps you appreciate spring like a Minnesota winter. Summer is beautiful and it’s not so hot that you can’t enjoy the outdoors. We have 10,000 lakes, awesome bike trails, and Parks which is all made possible by the city, county, and state initiatives paid for by taxpayers of course.

Climate Change

Duluth Minnesota was named climate proof by the New York Times and we can basically just include the whole North Shore in that category.  Of course we have plenty of access to water, farmland, and a culture that values healthy living.

Does Minnesota have problems? Of course there’s things that we need to work on and I cover some of those things in other articles. I think what it comes down to is what is important to you – do you want to be able to work, support your family, be close to friends, own a home, live in a clean and safe environment? Then Minnesota might be the right place for you.

There are many different areas to choose from the Twin Cities includes Minneapolis-Saint Paul and the surrounding suburbs which is where most people live. There are other cities outside the metro area like Rochester, Mankato, St Cloud, Duluth and the North Shore, and Northern Minnesota is like a whole other world, and so many other small towns in between. Given all of this, it’s no wonder so many people are moving to Minnesota!