More and more people want a taste of downtown Minneapolis living

The city's downtown population is booming.
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The city's downtown population is booming.

Efforts to boost Minneapolis' downtown population seem to be paying off, based on the latest figures from the Minneapolis Downtown Council (MDC)

The council released figures for 2017 that reveal there are now 43,456 living downtown now, a 6 percent rise (+2,592) people compared to 2016.

This means that in the space of 11 years, downtown has gained 11,552 residents, a 36.2 percent increase.

It comes after a period of years of development in downtown, with apartment complexes and luxury condos springing up while office space has also increased.

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The growth has helped downtown business and neighborhoods like the nearby North Loop to sustain a renaissance of food, drink, hotel and retail options.

Last year, Minneapolis has topped $1 billion in construction permits for the sixth year in a row, and of the $1.497 billion in permits, half of them were for downtown wards.

It doesn't show signs of stopping soon either, with construction currently underway on a further 1,203 rental properties and 374 owned units.

Long-term plans

The MDC has ambitions for even greater population growth in the future.

FOX 9 reports it wants to see downtown residents top 70,000 by 2025, which it says would increase urban density and reduce the cost of transit and garbage collection.

While crime is oft-cited as a problem in downtown, the MDC notes that 2017 saw a 77 percent reduction in crimes committed by the "Downtown 100" (the worst offenders in downtown).

And despite the 1,700 downtown jobs slashed by Target in 2017, there remains plenty of jobs to go serve the population.

Target remains the biggest downtown employer, with its 8,333 employees 183 more than it had last year. Hennepin County Medical Center is next with 7,105, followed by Wells Fargo with 7,000.

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The cost of living downtown

Unsurprisingly, those who have decided to move downtown are paying a premium to do so.

Rentcafe compiles a list of average rents in Minneapolis neighborhood and finds the Downtown East area to be the most expensive – with an average rent of $1,734-a-month.

The North Loop is sixth at $1,632, while Downtown West is further down the list, averaging $1,441, though in all these areas you're likely to get less square footage than in less densely-populated neighborhoods of the city.

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