state economic data for engaging in international real estate...apr 23, 2019 · 528 2.3 496 2.2...

State Economic Data for Engaging in International

Real Estate2019

National Association of REALTORS® Research Group

Minnesota

for Engaging in International Real Estate State Economic Data

May 2019

National Association of REALTORS®Research Group

Global Integration Indicators 1

Table 1. Population by Place of Birth 2

Table 2. Foreign-born Population 2

Table 3. Unemployment Rate 3

Table 4. Educational Attainment 3

Table 5. Home Ownership and Median Income 4

Table 6. Persons Obtaining Permanent Residence Status 5

Table 7. Non-Immigrant Admissions 5

Table 8. Non-Immigrant (I-94) Admission Classs 6

Table 9. Immigration by Origination Region and Country 7

Table 10. Employment of Multinational Companies 8

Table 11. Top 25 Export Destinations 9

Table 12. Top 25 Import Origins 10

Table of Contents

Foreign residential and commercial buyers are an important niche market for REALTORS®.

According to the 2018 National Association of REALTORS® Profile of International Activity in U.S.

Residential Real Estate, foreign buyers purchased $121 billion of residential property during April

2017—March 2018, or eight percent of the $1.6 trillion of total existing home sales during the same

period.

The 2019 Commercial Real Estate International Business Trends reported $4.8 billion in commercial

transactions with foreign clients in 2018 among REALTORS® typically engaged in commercial transactions

of less than $1 million per transaction.

The continued expansion of trade and investment among countries and the accompanying mobility and

migration of people opens greater opportunities for transacting with international clients.This Report

provides state-level economic data that can be used to enhance the knowledge and expertise of those

seeking to conduct and assist international real estate transactions with non-U.S. residents and recent

immigrants to the United States.

More data and information on residential, commercial, and global resources can be found at:

https://www.nar.realtor/research-and-statistics

https://www.nar.realtor/commercial-investment-real-estate

https://www.nar.realtor/international-real-estate

For inquiries, email us at [email protected].

https://www.nar.realtor/research-and-statistics

https://www.nar.realtor/commercial-investment-real-estate

https://www.nar.realtor/international-real-estate

Global Integration IndicatorsMinnesota

486,243 Foreign Born Population in 2017

9% Percent of Population14% vs. Percent of Population, U.S.

310,637 Non-immigrant Admissions in 2017

6% Percent of Population24% vs. Percent of Population, U.S.

$50,363 Total Exports and Imports in 2017 (million U.S. dollars)

14% Percent of State Gross Domestic Product

20% vs. Percent of Gross Domestic Product, U.S.

120 Employment of Majority-Owned U.S. Affiliates in 2016 (thousands)

4% Percent of Nonfarm Employment

5% vs. Percent of Nonfarm Employment, U.S.

1

Business Data for Engaging in International Real Estate Transactions in Minnesota

Table 1. Population By Place of Birth in 2017Minnesota U.S.

Total Population, by Place of Birth 5,576,606 325,719,178

Native /1 5,090,363 281,193,323

Foreign-Born /2 486,243 44,525,855

Naturalized 254,798 21,948,732

Not a U.S. Citizen 231,445 22,577,123

Percent, Foreign-Born 9% 14%

/1 The The U.S. Census Bureau uses the terms native and native born to refer to anyone born in the U.S.,

Puerto Rico, a U.S. Island Area , or abroad of a U.S. citizen parent or parents.

/2 The U.S. Census Bureau uses the term foreign born to refer to anyone who is not a U.S. citizen at birth,

naturalized U.S. citizens, lawful permanent residents (immigrants) present in the U.S., temporary migrants

such as foreign students), humanitarian migrants (such as refugees and asylees), and persons illegally present

in the United States.

Source: U.S. Census Bureau, ACS 2017, 1-year estimates, Table DP02

Table 2. Foreign-Born Population in 2017 Minnesota U.S.

Total Foreign-born Population, Excl. Born at Sea 486,243 44,525,458

Born in Europe 47,799 4,818,662

Born in Asia 180,956 13,907,844

Born in Afria 134,559 2,293,028

Born in Oceania 2,282 263,965

Born in Latin America 108,476 22,425,056

Born in Northern America 12,171 816,903

Source: U.S. Census Bureau, ACS 2017, 1-year estimates, Table DP02

9.8%

37.2%

27.7%

0.5%

22.3%

2.5%

10.8%

31.2%

5.1%

0.6%

50.4%

1.8%

Born in Europe

Born in Asia

Born in Afria

Born in Oceania

Born in Latin America

Born in Northern America

Foreign-Born Population in 2017Minnesota U.S.

Source: U.S. Census Bureau, ACS 2017, 1-year estimates

National Association of REALTORS®

2


Table 3. Unemployment Rate in 2012-2017

Minnesota

Total Population 4.3 6.6

Native 4.1 6.7

Foreign-Born 6.0 5.8

Naturalized 4.8 4.8

Not a U.S. Citizen 7.2 6.6

Source: U.S. Census Bureau, ACS 2010-2014, 5-year estimates, Table S0501

Table 4. Educational Attainment in 2012-2017

Minnesota U.S.

Percent With Bachelor's Degree

Total Population, 25 years and over 23.0 19.1

Native 23.5 19.6


Naturalized 19.1 20.6


Percent With Graduate or Professional Degree

Total Population, 25 years and over 11.8 11.8

Native 11.5 11.6


Naturalized 15.1 14.5


#N/A - Data not available


U.S.

34.8 35.032.9 34.2

31.330.9 31.2 29.7

35.1

24.0

Total Population,25 years and over

Native Foreign-Born Foreign Born-Naturalized

Foreign Born -Not a U.S. Citizen

Percent with Bachelor's and Graduate/Professional Degrees in 2012-2017

Minnesota U.S.


3


Table 5. Home Ownership and Median Household Income in 2012-2017

Home Ownership Rate Median HH Income

Minnesota (in $)

Total 71.6 65,699

Native 73.8 66,807

Foreign Born 47.2 53,063

Naturalized 58.0 58,620

Not a U.S. Citizen 32.0 46,682

U.S.

Total 63.8 57,652

Native 65.9 58,432

Foreign Born 51.7 53,420

Naturalized 65.5 63,346

Not a U.S. Citizen 33.9 43,612

#N/A - Data not available


(in %)

71.6 73.8

47.2

58.0

32.0

63.8 65.9

51.7

65.5

33.9

Total Native Foreign Born Naturalized Not a U.S. Citizen

Homeownership Rates By Citizenship Statusin 2012-2017

Minnesota U.S.


4


Table 6. Persons Obtaining Permanent Residence Status

U.S.

2005 15,449 1,122,257

2006 18,249 1,266,129

2007 13,814 1,052,415

2008 15,832 1,107,126

2009 18,020 1,130,818

2010 12,408 1,042,625

2011 12,389 1,062,040

2012 12,999 1,031,631

2013 12,781 990,553

2014 13,764 1,016,518

2015 14,737 1,051,031

2016 15,603 1,183,505

2017 16,009 1,127,167

Source of data: Department of Homeland Security

Yearbook of Immigration Statistics, Table 4.

Table 7. Non-immigrant Admissions

Minnesota U.S.

2005 149,451 32,003,435

2006 158,805 33,667,328

2007 174,279 37,149,651

2008 181,017 39,381,928

2009 155,386 36,231,554

2010 180,794 46,471,516

2011 202,958 46,471,516

2012 205,661 53,887,286

2013 232,836 61,052,260

2014 240,597 74,930,606

2015 269,557 76,638,236

2016 330,758 76,786,751

2017 310,637 77,643,267

Source of data: Department of Homeland Security

Yearbook of Immigration Statistics, Table 30.

Minnesota

16,009

0

5,000

10,000

15,000

20,000

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

Persons Obtaining Permanent Residence Status in 2005–2017

Minnesota

310,637

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

Non-Immigrant Admissionsin 2005–2017

Minnesota


5


Table 8. Non-immigrant admissions (I-94 only) 2013 2014 2015 2016 2017

Business Traveler,Visa waiver /1 84,770 77,826 76,564 82,092 83,959

Business Traveler, Other /2 100,279 112,858 141,796 191,800 170,904

Students and exchange visitors/3 22,793 22,146 23,168 24,394 24,621

Temporary workers and families/4 22,578 24,169 25,890 30,199 29,312

Diplomats/other representatives/5 456 603 592 699 490

All other classes 1,648 2,827 1,397 1,318 1,093

Unknown 312 168 2,827 256 258

Minnesota 232,836 240,597 272,234 330,758 310,637

U.S. 61,052,260 74,930,606 76,638,236 76,786,751 77,643,2671 Includes GB, GMB, GT, GMT, WB, and WT admissions.2 Includes B1, B2 and a limited number of Border Crossing Card (BCC) admissions.3 Includes principals, spouses, and children (F,J,M admissions).4 Includes principals, spouses, and children (CW1, E, H,I,L,O, P,Q, R, TD and TN admissions).5 Includes principals, spouses, and children (A, G, Nadmissions).

Notes:

Admissions represent counts of events, i.e., arrivals, not unique individuals.

The majority of short-term admissions from Canada and Mexico are excluded.

Source: U.S. Department of Homeland Security, Yearbook of Immigration Statistics,Table 30.

27.0%

55.0%

7.9%

9.4%

0.2%

0.4%

0.1%

Business Traveler,Visa waiver /1

Business Traveler, Other /2

Students and exchange visitors/3

Temporary workers and families/4

Diplomats/other representatives/5

All other classes

Unknown

Non-immigrant Admissions in 2017

Minnesota


6


Table 9. Immigration by Origination Region and Country in 2017

REGION

Total 16,009

Africa 8,108

Asia 4,667

Europe 648

North America 1,939

Oceania 56

South America 572

Unknown 19

COUNTRY

Total 16,009

Somalia 2,662

Ethiopia 2,015

Mexico 1,269

Kenya 1,232

India 678

Vietnam 616

Liberia 587

Burma 545

Thailand 485

China, People's Republic 444

Philippines 319

Ecuador 270

Cameroon 196

Iraq 185

Cambodia 183

South Africa 170

Nigeria 168

Nepal 157

Egypt 143

Pakistan 141

El Salvador 138

Canada 129

Ukraine 128

Ghana 121

Laos 121

Guatemala 113

D-Data withheld to limit disclosure

Source: U.S. Department of Homeland Security

Yearbook of Immigration Statistics, 2017,Supplemental Table 1.

51%

29%

4%

12%

0%

4%

0%

Africa

Asia

Europe

North America

Oceania

South America

Unknown

Countries of Origin of Immigrantsin 2017

Minnesota

2,662

2,015

1,269 1,232

678

Somalia Ethiopia Mexico Kenya India

Top Countries of Origin of Immigrantsin 2017

Minnesota


7


Table 10. Employment of Majority-Owned U.S. Affiliates of Foreign Multinational Companies

Source: US Bureau of Economic Analysis

23.9

7.3

15.7

8

4.77.3

19.3

33.5

Employment of Majority-Owned U.S. Affiliates Including Banks in 2016 (in thousands)


8


Table 11. Top 25 Export Destinations of the State Based on 2015 Dollar Value (in Millions)

Country 2018 Dollar Volume Percent Share

22,685 1.4

20,360 89.8

4,802 21.2

2,362 10.4

2,260 10.0

1,518 6.7

1,073 4.7

1,043 4.6

657 2.9

621 2.7

603 2.7

528 2.3

496 2.2

472 2.1

469 2.1

462 2.0

434 1.9

413 1.8

378 1.7

296 1.3

295 1.3

245 1.1

205 0.9

198 0.9

181 0.8

179 0.8

173 0.8

Source: U.S. Census Bureau, State Trade Data by Country

The world export share is the state's share to total US exports to the world.

The top 25 share is the fraction of the state's exports that go to the top 25 countries.

Each country's share is the fraction of the state's exports that go to that country.

India

Costa Rica

Poland

Brazil

Italy

Indonesia

Malaysia

Switzerland

Netherlands

Australia

France

Taiwan

Thailand

United Kingdom

Belgium

Hong Kong

Philippines

Ireland

Japan

Germany

Korea, South

Singapore

China

World

Top 25

Canada

Mexico


9


Table 12. Top 25 Import Origins of the State Based on 2018 Dollar Value (in Millions)

Country 2018 Dollar Volume Percent Share

32,807 1.3

31,541 96.1

12,425 37.9

9,570 29.2

2,280 7.0

1,055 3.2

1,027 3.1

780 2.4

499 1.5

428 1.3

401 1.2

390 1.2

383 1.2

344 1.0

273 0.8

225 0.7

204 0.6

163 0.5

157 0.5

154 0.5

137 0.4

116 0.4

115 0.3

110 0.3

103 0.3

103 0.3

98 0.3

The world import share is the state's share to total US imports from the world.

The top 25 share is the fraction of the state's imports from the top 25 countries.

Each country's share is the fraction of the state's imports from that country.

Vietnam

Turkey

Switzerland

Singapore

Netherlands

Israel

Philippines

Sweden

Indonesia

Brazil

Source: U.S. Census Bureau, State Trade Data by Country

France

Malaysia

India

Thailand

Korea, South

Taiwan

Italy

Japan

United Kingdom

Costa Rica

China

Canada

Mexico

Germany

Ireland

World

Top 25


10

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