In Rochester proper, you’re going to have a hard time finding studios at those prices. The new apartments are (sometimes) well over $1000/month for a studio. Not that you cannot find cheaper, but they tend to be rented out and people aren’t in a hurry to move. Due to the mayo constantly bringing in the desperate(for medical care) and the care providers, there’s no shortage of renters so prices very rarely have a reason to drop.
If you go outside of Rochester, to a suburb or more rural city, you may have an easier time with that price, however, buildings tend to be older and along with it comes borderline rural living, which suits me perfectly, but certainly isn’t for everyone.
In general, Minnesota is an awesome place to live, especially the Rochester area, just don’t come here thinking you’re not going to have a lot of the same problems. Compared to a lot of places though, I’m really glad to be here.
Edit: to add, Duluth is one of my favorite cities, however, it’s basically the definition of a college town and drugs have impacted a lot of the locals quite a bit. It’s gorgeous up there, but, personally, it feels like the city’s best days are unfortunately behind it, with the decline of shipping through the Great Lakes, it just doesn’t have the money it used to and I would be shocked if it was able to get back to its full glory. 10/10 will vacation, maybe not live there full time. For me anyway.
I see your perspective for sure, and maybe I’m being way too optimistic/naive,(especially cause I’m going to reference capitalism and it’s the reason we’re having the conversation to begin with) but, isn’t the idea of “free markets” that if that were to happen, it opens the door for a competitor to undercut and take the market share?
Which the counter to that is, they’re in cahoots, but my counter to that would be, the little guy doesn’t care if the big guys set prices. Idk. It’s circular and the world is fucked as is.