Why Minneapolis Is Growing Backwards
About this video
Minneapolis is changing fast, but not in the way most people expected. In this video, we break down why Minneapolis is growing backwards, what’s happening with the housing market, population shifts, downtown changes, and why more people are choosing the suburbs over the city.
Key takeaways
- Minneapolis itself isn't growing: about 430,000 people in 2020 and an estimated 428,500 in 2024. Hennepin County (1.27 million) looks steady because suburbs like Maple Grove, Rogers and Dayton are growing.
- The growth is in the outer-ring counties: Scott (Shakopee, Prior Lake, Savage) up more than 20% since 2010, Carver (Chanhassen, Chaska, Waconia) up 25%, plus Dakota, Sherburne and Wright, which added more than 13,000 residents since 2020.
- Why: Minneapolis and Saint Paul are largely built out, downtown office demand has shrunk (Target paid about $110 million to exit its City Center lease), and many buyers want yards and new construction.
- Price ranges in the video: Lakeville from the mid-$400,000s, Chanhassen in the mid to high $500,000s, Shakopee and Apple Valley from the high $300,000s to mid-$400,000s, and Elk River and Big Lake from the low $300,000s.
- Jason's advice: for long-term appreciation, buy where growth is heading. The trade-off is a 30- to 45-minute drive to downtown.
Questions this video answers
Which Twin Cities counties are growing fastest?
The outer-ring counties: Scott, Carver, Dakota, Sherburne and Wright. Carver is up about 25% and Scott more than 20% since 2010, according to the video.
Is Minneapolis losing population?
Slightly. The city had about 430,000 people in 2020 and an estimated 428,500 in 2024, while its suburbs kept growing.
Read more: Lakeville vs. Shakopee · Chanhassen vs. Eden Prairie · Commute times
Notes written by Huerkamp Home Group from this video. Figures are as stated in the video on May 26, 2026; check the current numbers in our market reports.
