First-Time Buyers

Minneapolis–Northeast -5.8%
Hipness walking hand in hand with practicality are critical facets of Northeast’s allure. It’s a mid-twentieth-century neighborhood with twenty-first-century amenities and ease of access to the best of metropolitan culture. Art studios and architects’ offices have invaded industrial facilities left behind by such icons as Grain Belt and Northrup King, blending a young creative class with what long was a predominantly blue-collar Eastern European population. (You can still attend Eastern Orthodox services here and pick up pierogi or brats at well-known local restaurants and delis such as Nye’s—AKA “The Best Bar in America”—and Europol Eva’s Deli.) But what really makes Northeast a standout is its reasonably priced housing. “It’s a more affordable south Minneapolis,” says Kathy Borys with Coldwell Banker Burnet. “You can have a lot of character and charm, and you’re still conveniently located.” First-time buyers may have to put a little sweat equity into upgrading the generally older housing stock, but they’ll be saving plenty of gas money, thanks to the area’s proximity to Downtown Minneapolis and the University of Minnesota. More and more amenities are making their way to Northeast, from the Pop and Pizza Nea restaurants to vintage clothing shops to theaters such as the Ritz, and coffeehouses such as Sip, in the Grain Belt Keg House.

Minneapolis–Nokomis -2.7%
Home values are holding up nicely in this well-maintained middle-class neighborhood. Proximity to lakes, light rail, and the airport (maybe a bit too much airport for some) give Nokomis enduring appeal. Blocks of 1920s- and ’30s-era houses in a mix of styles (some streets in the Shenandoah Terrace area were developed by the same people behind much of the Country Club neighborhood in Edina) and a mature tree canopy give the area a distinctive, well-groomed character. The commercial district that centers on Chicago Avenue and 48th Street is stronger than it’s been in years, with such draws as the Turtle Bread Company, Pepitos, and the 1931 Parkway Theater, which has been undergoing restoration since 2006. Lake Nokomis, Minnehaha Creek, and their sprawling parks and sports fields make the area a center of in-town outdoor activity.

Apple Valley +0.4%
The archetypal third-ring suburb is weathering the real estate storm surprisingly well, all things considered. The Minnesota Zoo may be Apple Valley’s biggest attraction, but the new, ground-breaking grizzly bear exhibit shouldn’t steal all the show. The housing market here is strong thanks to a planned diversity of price ranges. The “downtown” at County Road 42 and Cedar Avenue South supplies all the community basics, in bicycling range if you so choose, and Burnsville Center is only three miles west. Community involvement in schools is excellent and the sports-crazed citizenry is rewarded with regular tournament berths. Last year, editors of Money magazine, named the burb the twenty-eighth best place to live in the United States. “We have some fantastic neighborhoods that are maintaining their values fairly well because people show pride in ownership,” says Realtor Bill Tschohl, who also farms in the Apple Valley area. “I’m pretty excited about this market. We’ve had a lot of homes with multiple offers, and I almost have to work seventy hours a week to keep up with it all.”

St. Paul–Riverside/Cherokee/ West Side -3.2%
Crossing the Wabasha Street Bridge from downtown St. Paul to the West Side soon brings you high up limestone bluffs. At the top edge is the sprawling Cherokee Regional Park; a mile beyond is the District del Sol with its distinctive Latino flavor and block after block of superb cuisine. “All of the West Side is very diverse, which attracted us,” says Paige Kahle, a Realtor with Edina Realty who lives in a 1920s craftsman home near Cherokee Park. Housing stock is generally older, but within the range of first-time buyers. Another draw: the river gorge landscape, best seen from the south end of the High Bridge. “Two or three times a week, we walk down the bluff paths,” Kahle says. “It’s like having a natural playground in your backyard.”

New Brighton +11.1%
The town may not ring much of a bell for many Twin Citians, but New Brighton, full of 1950s and ’60s construction, has become a suburban star, thanks to strong neighborhoods, schools, and parks. “If I were a first-time homebuyer or even a first-time move-up, New Brighton would definitely be a place I’d look,” says Vickie Gay, manager of Edina Realty on Grand Avenue in St. Paul. Crime is negligible, freeway access is easy, and the Mounds View schools are rated well. Another benefit: Commercial development has come with careful planning. “They’re always rebuilding and upgrading,” says Gray. “You might see that in urban or in suburban areas with huge building booms, but you don’t often see that happen in the middle tier. You do here.”

Jordan +13.3%
Small-town Scott County requires a tough commute to Twin Cities business centers, but for now that’s OK for residents here. House prices in thoroughly- planned Jordan cover a wide range and are holding their values much better than in other exurbs. But the icing on the cake is the 155-year-old town’s charm: a quaint downtown with antiques shops and other small businesses, most of it still surrounded by quintessential Minnesota pastoral scenery.