Minneapolis MN Community Profile

Staincrete is proud to offer its decorative concrete services to the people of Minneapolis Minnesota.  We thought you might like to know a bit more about this interesting and vibrant community.

History of Minneapolis

The city of Minneapolis grew around Saint Anthony Falls, which is also the highest waterfall on the Mississippi River. At the time, lumber was the prime industry and 17 sawmills were operated around the area.  The residents used hydropower to great effect. In between 1880 to 1930 it was described as the greatest direct-drive waterpower the world has ever known. Grain from the Great Plains was transported to the city’s 34 flour mills and by 1905 it produced 10% of the country’s flour.  While the city had humble beginnings, it eventually evolved into a prime area for the flour industry and later flourished to become a business and transportation center.

Demographics

Statistic Minneapolis Minnesota National
Population 394,424 5,383,661 314,107,084
Population density (sq mi) 7,303 67 91
Median age 31.7 37.6 37.4
Male/Female ratio 1.0:1 1.0:1 1.0:1
Married (15yrs & older) 37% 58% 55%
Speak English 80% 89% 79%
Speak Spanish 8% 4% 13%

The average age is 16% lower than Minnesota

  • 36% is Caucasian
  • 85% is African-American
  • 85% is Asian

Minneapolis MN Cost of Living

Index Minneapolis Minnesota National
Cost of living index 106 102 100
Index Minneapolis Minnesota National
Goods & Services index 108 106 100
Groceries index 106 105 100
Health care index 106 110 100
Housing index 110 101 100
Transportation index 101 98 100
Utilities index 96 91 100
  • Cost of living is 4% higher than the state average
  • Cost of living is 6% higher than the national average
    Cost of housing is 10% higher than the national average

Goods & Services

Item Minneapolis National avg. Difference
Haircut $24.24 $15.56 55.8%
Beauty Salon $34.24 $36.11 5.2%
Toothpaste $3.32 $2.47 34.4%
Shampoo $1.04 $0.96 7.4%
Movie $9.88 $10.13 2.4%
Bowling $4.12 $4.74 13.1%

Groceries

Item Minneapolis National avg. Difference
Ground Beef $4.14 $3.98 4.0%
Fried Chicken $2.00 $1.41 42.1%
Milk $2.23 $2.06 8.1%
Potatoes $3.30 $2.98 10.5%
Pizza $10.53 $9.47 11.1%
Beer $8.81 $8.79 0.2%

Health Care

Item Minneapolis National avg. Difference
Optometrist $81.38 $101.04 19.5%
Doctor $133.98 $107.44 24.7%
Dentist $85.91 $90.42 5.0%
Ibuprofen $11.82 $9.28 27.4%
Lipitor $416.78 $426.50 2.3%

Median Income & Debt-To-Income Ratio

Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
Owners $80,527 $6,711 $1,879 $2,416
Renters $30,689 $2,557 $716 $921

If you want to find a good determining factor for the cost of living and the general affordability of housing in Minneapolis, MN, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Minneapolis, MN, the median monthly income is $80,527 for those who own their own homes. Under the standard rule, that income level would allow for $1,879 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $30,689, per the median income in the area. That would allow for renters to spend up to $716 on monthly rental expenses.

Schools in Minneapolis

The Minneapolis Public School system administers to the educational needs of the city’s residents. There are 100 public schools, 45 of which are elementary schools, 7 of which are middle schools and lastly there are 7 High schools.  There are also 8 special education schools as well as eight alternative schools.  The University of Minnesota is located here.

Places of Worship

There are many places of worship in the city for different faiths. Based on data from the Pew Research Center, 70% are identified as Christians and 46% attend different churches with 21% belonging to the Roman Catholic faith. Around 5% are practicing Judaism, Islam and Hinduism.

Some of the city’s churches are:

  • Apostolic Faith Church
  • Aldersgate United Methodist
  • Aldrich Avenue Presbyterian Church
  • Andrew-Riverside Presbyterian church
  • Bethesda Baptist Church
  • Bethlehem Baptist Church
  • Bloomington Church of God

Businesses Based in Minneapolis, MN

There are 5 Fortune 500 Companies that call Minneapolis home.

These are:

  • Target
  • US Bancorp
  • Xcel Energy
  • Ameriprise Financial
  • Thrivent Financial

Some of the biggest employers in the city are:

  • Target
  • Wells Fargo
  • HCMC
  • Hennepin County
  • Ameriprise
  • US Bancorp
  • Xcel Energy
  • City of Minneapolis
  • RBC Wealth Management

The economy of this vibrant metropolis largely rests on commerce, health care, finance, rail and trucking services.  The city is also known for publishing, graphic arts, education and food processing.

Restaurants & Nightlife

Capital Grille Restaurant – Great place to enjoy steaks. Service is impeccable and the ambience is perfect for a romantic dinner for two.  Do check out the 24 ounce porterhouse along with the sweet corn soup with crème fraiche as well as the French onion soups.

Pizzeria Lola Restaurant – This is a nice little neighborhood style restaurant. They offer fire roasted pizzas with fresh and unique ingredients.  Be prepared to wait as there are lots of people always eating.

Bar La Grassa Restaurant – Features a casual but sophisticated vibe. They offer terrific Italian food I an upscale trendy setting. Do check out the arancini with duck ragout as well as the fresh pasta with rabbit.

Fun Things to Do in Minneapolis

The city is a melting pot of culture, entertainment, sports and recreation.

Walker Arts Center – considered as one of the 5 biggest modern art museums in the country.

Minneapolis Institute of Art – is the biggest art museum featuring over 100,000 pieces for their permanent collection.

Theaters – is second to NYC in terms of live theater per capita and the 3rd biggest theater market in the country.

  • Pence Opera House
  • Grand Opera House
  • Academy of Music

Minneapolis Minnesota truly is a great place. If you’d like to talk know more about our concrete flooring services in Minneapolis give us a call.  We can’t wait to meet you.