| Foreclosures in Minnesota
Population:
21st largest U.S. State by population, with 10,045,697 people (2009 estimate). 12th largest state in the country by area, at 97,990 square miles.
Largest city: Minneapolis
Median income:$57,288 (2008 estimate)
Climate:
Yearly rainfall: 26.3 inches per year
Yearly snowfall: 40 inches per year in the Southwest; up to 68 inches per year in the Northeast
Temperatures (High/Low) in capital city of Saint Paul:
January, 23/6; July, 83/63
Foreclosures:
Foreclosure activity for 2009 increased in Minnesota over the prior year. There was a total of 31,697 properties with filings. That works out to a rate of one filing for every 73 households, which compares to the United States average of 45, and is a little more than one percent of the state’s housing units.
Those figures represent a 56 percent increase over 2008 and a 174 percent increase over 2007.
In 2008 there were about 96,200 existing homes (including condos, co-ops, and single-family homes but excluding new homes) sold in Minnesota, compared to about 99,800 sold in 2007.
Economy:
Minnesota is the sixth biggest agriculture state in the country by value produced. It is a major producer of beets, corn, peas, and lumber—including paper products. It is no longer the mining power it once was, but a strong corporate presence has more than made up for the loss. General Mills, 3M, Hormel, Target, Best Buy and United Health Group are all based out of Minnesota. Citizens of the state are relatively well-off compared to other states; per capita income is $42,772 which ranks 10th in the nation.
Noteworthy: Minnesota is one of the healthiest states in the country. A higher percentage of its citizens exercise regularly than any state in the country and it has the second highest life expectancy. Minnesota is home to the Mayo Clinic, considered one of the top medical centers in the world.
|