Good jobs and a healthy economy are two factors that have a big impact on real estate. REALTORS® always keep an eye on things like unemployment numbers because let’s face it, people who aren’t confident about their jobs and job security are less likely to sign for a 30-year mortgage!
There’s some good news for the Minneapolis-St. Paul area. The Twin Cities just moved up in Forbes magazine’s annual Best Places for Business and Careers. The Twin Cities ranks 22nd out of 200 large metro areas in the United States. That’s up 12 places from where the area ranked in 2011.
Finance & Commerce just reported:
Interestingly enough, the change appears to have nothing to do with business costs or educational attainment, which are ostensibly the metrics that get the most weight in the Forbes rankings.
Minneapolis-St. Paul came in 156th for business costs in the 2012 list, the same ranking it received the year before. It came in 20th for education, down one notch from 19th in 2011. With job growth, past and project, the Twin Cities actually dropped to a 104th ranking this year, down from 77th a year before.
So what allowed the Twin Cities, then, to rise on the list? Forbes offers a clue in its description of methodology: “We also factor in quality of life issues like crime rates, cultural and recreational opportunities and net migration patterns.”
Forbes also ranks the Twin Cities on several other of its lists:
- #1 America’s Safest Cities
- #19 Best Cities for Singles
- #20 in Education
- #22 Best Places for Business and Careers
- #104 in Job Growth#20 in Education
- #156 in Cost of Doing Business
What’s your biggest draw for the Twin Cities? What do you tell people about when you talk about why it’s such a great place to live?
The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 19,000 members who are active in all aspects of the real estate industry in Minnesota.