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Minnesota
Mortgage Calculator
How Much Will Your Mortgage Be in Minnesota?
In Minnesota, the housing market in Minneapolis and St. Paul are competitive, but home prices are quite affordable in the rest of the state.
Minnesota is home to about 5.5 million residents and is the 12th largest in the country in terms of geography. The largest metro areas are Minneapolis, St. Paul, Rochester, Duluth, and Bloomington. Also, see FHA Loan in Minnesota for details and requirements for a home in the state. If you want to move to Minnesota, see First-time Homebuyer Guide for Minnesota.
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Minnesota Home and Mortgage
Stats to Know
County | Avg. Home Price | Avg. Days on Market |
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Source of Info PropertyPath
Factors That Can Affect Your Minnesota Mortgage Calculations
Minnesota Job Stats to Consider
Manufacturing, biosciences and healthcare services, data centers, banking and tech are the biggest drivers of Minnesota's GDP. 17 Fortune 500 companies are centered in the state, including 3M, Best Buy, UnitedHealth Group, Target, and Land O'Lakes. The state's largest employers are the Mayo Clinic, the State of Minnesota, the Federal Government, Target, and the University of Minnesota.
As of September 2019, Minnesota had an unemployment rate of 3.2%, just under the national average of 3.5%. The state’s per capita income of $57,515 is also above the national average of $54,420, and the last decade has witnessed steady growth in incomes across the state.