St. Paul’s Lowertown neighborhood recently snagged headlines for recognition as America’s top hipster zip code.
The label comes from
RealtyTrac, which analyzed hipster zip code markets. RealtyTrac states in its study that while it's tough to pin down what exactly a hipster is, "there’s no doubt the culture surrounding the hipster lifestyle has a major impact on local real estate markets, and mostly in a positive way.”
An influx of trendy restaurants, bars, coffee shops, and other amenities make a particular zip code stand out as hipster-ish. Such amenities translate into higher property values and rental rates, and lower vacancies and foreclosures, the study states.
“As a nascent hipster market emerges, it can be an extremely appealing target for real estate investors looking to make some quick fix-and-flip profits or to purchase rental properties that provide a steady cash flow and the promise of strong appreciation going forward,” according to RealtyTrac.
Source: RealtyTrac