Minneapolis Real Estate Demographics: Shift Changes Determine What’s Considered Desirable in Twin Cities Homes

Request A Homebuyers Quote

Minneapolis real estate demographics reveal that today the number of married couples living in the Twin Cites area has dropped to less than 50% as reported by twincities.com. More and more people are working from home. Many are seeking home renovations, converting extra bedrooms into home offices. If you are a seller putting your home on the Twin Cities market today, here are some keys to note:

Realtor.org research shows that Married couples no longer hold the majority in households. In 1960, married couples made up 75 percent of total households. In 2010, that percentage has dropped to 48 percent, according to U.S. Census data.

Meanwhile, “family households”–which includes married couples with no children–has bloomed from 45.1 million in 1960 to 77.5 million in 2010. And non-family households (people living alone or households where no one is related) has soared–increasing nearly five times in the last 50 years–from 7.9 million in 1960 to 39.2 million in 2010. It is noteworthy that such Minneapolis real estate demographic shifts create opportunities to design and sell homes to a new growing group of buyers who are challenged to find what they want in the resale market that is built for families.

What do non-family potential home buyers desire? Our Minneapolis real estate demographics tell us the following:

Smaller home size. Non-family households tend to want less space than a family household–often looking for a home under 2,500 square feet with less maintenance. A recent survey also suggests that near two-thirds of non-family households prefer no more than three bedrooms in a home.

Location is key. Non-family households seek to live near work, entertainment, and shops in a solid real estate location, proven to hold its value over the years. Many consider the location of their home as more important than the size of the home.

Keeping it simple. Non-family households are less likely to be driven by additional luxuries and choosing those extra amenities like media rooms, community pools, and tot lots. They simply don't have the same need for them.

Jenna Thuening Sells Homes Fast Home Destination will help you get the best price for all parties concerned. Jenna years of understanding Minneapolis real estate demographics, experience, and industry connections will put your property on the market quickly in a manner that assists the sale of your home. read more if you are ready to sell ...		Choosing a Real Estate Agency Many clients ask how to choose a real estate agent. In today's economy and foreclosure market, choose a Certified Distressed Property Expert. Today more houses are for sale, stretches on the market are longer, and prices have bottomed, plateaued or, in some places, increased. Choosing a real estate agency ...		Relocation Moving Tips for Buyers and Sellers Relocation moving tips to help your family's transition be exciting and smooth. Home Destination's experience helping home buyers will save you time, money, and hassle. read relocation tips ...

Every month Home Destination offers you updated information on the Minneapolis area housing supply, current housing economic indicators, mortgage interest rate news. Contact Jenna Thuening today to better understand how this effect your home and learn more about your real estate demographics.