Minnesota weathered the economic downturn better than many other states. The North Star state boasts an unemployment rate lower than the national average while at the same time supports a lower cost of living. Qualities like these bring job-searching candidates to the state – and they all need somewhere to live.
Renting in Minnesota is a great option for new arrivals to the state. Renting often provides residents with less expensive living options, as renters don’t worry about upgrading or maintenance costs often associated with homeownership. Other good reasons to rent in Minnesota include:
* Free yourself from debt – Renting allows you to pay for your house on a month-by-month basis, with no overhanging debt. If you have other financial investments you’d like to make, renting gives you greater flexibility with your money.
* Live a simpler lifestyle – Rental units traditionally are smaller than privately owned homes, resulting in renters often owning fewer material goods. Owning less stuff can facilitate living more simply.
* Flexibility to move – Life can throw sudden and unexpected changes at you, and renting an apartment or home makes it easier to transition through these changes. Increasing your family through the birth of a baby, going through a divorce, being transferred to a different office or getting married all could become reasons for a move.
When looking for a rental, be sure to prepare your application in advance to make you a good candidate for landlords. Check your rental history report and your credit report for any errors. Landlords will also likely review these reports when considering your application. Also, get any references prepared and establish a budget for your monthly rental payments, which can help you determine what rental units to investigate first.