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September 3, 2014

Minnesota’s median income halts slide

Minnesota’s median household income held steady in 2011 at about $57,000 compared with the year before, after several years of decline, the Pioneer Press reported. It was aided in part by a a small improvement in the employment rate. Median household income for Minnesota was about $57,000, unchanged from 2010, according to new data from the U.S. Census Bureau’s American Community Survey that was released Thursday.

In other news mined from Census data, it appears the recession was especially rough for Minnesota’s young adults, who continue to experience high levels of unemployment and poverty while delaying major life events such as moving into their own place and getting married, the Star Tribune reports.

But there’s some good news for twenty-somethings, the newspaper reports. Census data released Wednesday hint that hardships might have hit bottom in 2011. The unemployment rate for 22- to 24-year-olds slid slightly last year, though it remains above higher levels hit prior to the recession.

Other indicators from the Census data, too, point to improvements generally in the Minnesota economy, MPR reports.

The economy nationwide is showing other glimmers of hope in the housing market, the National Association of Realtors reported this week. On the wake of news Wednesday that home builders broke ground on more single-family homes last month, sales of previously-owned homes improved in August as well, rising at their fastest pace in more than two years, U.S. News and World Report noted.

On the heels of that news, WCCO talked to realtors about home features help sell a house fastest (think mud rooms, front porches and new appliances):