Introduction

Investing in rental properties can be a lucrative endeavor, offering a steady stream of passive income and potential appreciation in property value. However, the success of a rental property investment hinges on several factors, with location being paramount. A good rental property should be in a desirable location, offering convenience, attractions, and amenities that appeal to potential tenants. This guide will explore the best neighborhoods and areas in Ramsey County, MN, evaluating them based on various criteria to help you make an informed investment decision.

Best Neighborhoods and Areas in Ramsey County, MN

1. Saint Paul – Downtown

Grades:

• Convenience: A
• Tourist Attractions: A
• Things to Do: A
• Average Home Prices: C
• Return on Investment: B
• Proximity to Work-Related Travel: A
• X-Factor: A

Convenience: Downtown Saint Paul offers exceptional convenience, with numerous public transportation options, easy access to major highways, and a plethora of dining, shopping, and entertainment venues within walking distance.

Tourist Attractions: The area boasts attractions such as the Science Museum of Minnesota, Minnesota Children’s Museum, and the historic Landmark Center.

Things to Do: Residents and visitors can enjoy a vibrant nightlife, various restaurants, theaters, and cultural festivals year-round.

Average Home Prices: While home prices are relatively higher in this area, the investment potential remains strong due to high demand for rental properties.

Return on Investment: The ROI is solid, particularly for short-term rentals and properties catering to young professionals and tourists.

Proximity to Work-Related Travel: Downtown is close to the Saint Paul RiverCentre, the Xcel Energy Center, and several hospitals, making it ideal for those needing easy access to these facilities.

X-Factor: The urban lifestyle, historical charm, and constant activity make Downtown Saint Paul a unique and desirable location.

2. Highland Park

Grades:

• Convenience: B
• Tourist Attractions: B
• Things to Do: B
• Average Home Prices: B
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: A

Convenience: Highland Park is known for its family-friendly atmosphere and good schools. It offers a suburban feel while being close to the city center.

Tourist Attractions: While not as tourist-heavy as downtown, it offers attractions like the Highland Park Golf Course and Crosby Farm Regional Park.

Things to Do: The neighborhood provides numerous parks, recreation centers, and local businesses, making it a pleasant place to live.

Average Home Prices: Home prices are more affordable compared to downtown, offering better value for investors.

Return on Investment: ROI is stable, with a strong demand for family homes and long-term rentals.

Proximity to Work-Related Travel: Its location is convenient for commuting to both downtown Saint Paul and Minneapolis, with nearby highways and public transport options.

X-Factor: Highland Park's blend of suburban tranquility and city accessibility, along with its strong community vibe, makes it stand out.

3. Como Park

• Convenience: B
• Tourist Attractions: A
• Things to Do: A
• Average Home Prices: B
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: A

Detail:

Convenience: Como Park offers good public transportation and road access, making it easy to navigate.

Tourist Attractions: The Como Park Zoo & Conservatory and Como Town amusement park are major attractions drawing visitors and potential tenants.

Things to Do: With extensive green spaces, a lake, and recreational facilities, there’s no shortage of activities for residents.

Average Home Prices: Prices are moderate, providing a balance of affordability and investment potential.

Return on Investment: The ROI is promising due to the high desirability of the area and the constant flow of visitors.

Proximity to Work-Related Travel: Its central location is convenient for accessing various parts of the Twin Cities.

X-Factor: The abundance of green spaces, family-friendly activities, and strong community engagement give Como Park a unique appeal.

4. Macalester-Groveland

Grades:

• Convenience: B
• Tourist Attractions: B
• Things to Do: B
• Average Home Prices: B
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: B

Convenience: This neighborhood offers a mix of urban and residential feel with good public transportation and road access.

Tourist Attractions: It’s home to the Macalester College, which adds to the cultural and educational attractions of the area.

Things to Do: The area has a variety of local shops, cafes, and parks, making it a pleasant place to live.

Average Home Prices: Home prices are reasonable, making it accessible for many investors.

Return on Investment: The ROI is steady, driven by the demand from college students and faculty.

Proximity to Work-Related Travel: Its central location makes it easy to commute to various parts of the Twin Cities.

X-Factor: The presence of Macalester College adds a vibrant, youthful energy to the neighborhood.

5. North End

Grades:

• Convenience: C
• Tourist Attractions: C
• Things to Do: C
• Average Home Prices: A
• Return on Investment: B
• Proximity to Work-Related Travel: B
• X-Factor: C

Convenience: The North End offers decent public transportation and road access, though it’s not as developed as other areas.

Tourist Attractions: The area lacks major tourist attractions but has potential for growth.

Things to Do: There are local parks and community centers, but fewer entertainment options compared to other neighborhoods.

Average Home Prices: Home prices are very affordable, making it an attractive option for budget-conscious investors.

Return on Investment: The ROI is favorable due to the low initial investment and potential for neighborhood development.

Proximity to Work-Related Travel: It offers reasonable access to major employment centers.

X-Factor: The affordability and potential for future growth make the North End an interesting option for investors looking for long-term gains.

Conclusion

Ramsey County, MN, offers a variety of neighborhoods each with unique characteristics and investment potential. Whether you are looking for the hustle and bustle of downtown Saint Paul or the family-friendly suburbs of Highland Park, there are opportunities to suit different investment strategies. By carefully evaluating convenience, attractions, activities, home prices, ROI, and unique factors, you can unlock the investment potential of rental properties in this diverse and vibrant county.