Minneapolis and St. Paul Minnesota Are A Thriving Luxury Market

May 18, 2009

By Eric Kodner of Wayzata Lakes Realty

Minneapolis is one of the 30 busiest airports in the world by passenger traffic. In the United States, only Denver serves more nonstop airline markets per capita than Minneapolis.

Minneapolis is one of the ten largest airline hub metro areas in the United States, along with Chicago, Atlanta, Los Angeles, Dallas, New York/New Jersey, Denver, Orlando, Phoenix and San Francisco.

The Twin Cities are home to NFL (Vikings) Football, Major League Baseball (Minnesota Twins), NBA Basketball (Timberwolves) and NHL Hockey (Wild).

Nine Minnesotans made Forbes Magazine's list of American billionaires. Minnesota ranked eleventh among all states in number of billionaires.

There are just over three million people in the Twin Cities metropolitan area. The metro is home to two major symphony orchestras, opera, ballet, the Minneapolis Institute of Arts, the Walker Art Center and the Guthrie Theater. Minneapolis & Saint Paul supports more repertory, nonprofit and for-profit theatre companies per capita than any city in the United States except New York.

Minneapolis is home to the world's second largest private corporation, Cargill.

Fortune 500 corporations in Minneapolis include Target, General Mills, US Bancorp, Xcel Energy, Thrivent, and Ameriprise Financial. Saint Paul is home to The Travelers Companies, 3M, Ecolab, Securian Financial and Patterson Dental.

Other major metro area companies include Anderson Windows, Aveda (subsidiary of Estee Lauder), Toro, Nash Finch, Medtronic, St. Jude Medical, CHS, United Health Group, Carlson Companies, Best Buy and Seagate Technology.

The world-famous Mayo Clinic is located less than an hour and a half away from the southeast Twin Cities metro area. Minnesota had one of the largest percentages of leading cardiovascular hospitals among urban areas in the United States.

According to CNN Money, Minnesota ranks among the top ten wealthiest states in the U.S., by median household income.

Woodland, Minnetonka Beach and Sunfish Lake (all in the Twin Cities metro area) rank among the 100 highest-income places in the United States. Minnesota ranked ninth among all states in its number of highest-income locales. Luxury real estate communities include the Lake Minnetonka area, Edina, Stillwater, Afton-Bayport, White Bear Lake-North Oaks, Kenwood-Isles-Lowry Hill, Crocus Hill and Summit Avenue in Saint Paul.

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