Situated on the shores of Lake Superior, Duluth is a popular tourist destination and a draw for residents because of its breathtaking views and outdoor recreational opportunities. The city's diverse real estate market includes historic homes, modern apartments, and commercial properties, ensuring a wide range of investment opportunities.
There are many neighborhoods in Duluth that stand out for their investment potential. The Lakeside/Lester Park area is close to Lake Superior, has good schools and a vibrant community atmosphere. The Chester Park and Congdon neighborhoods are known for their charming historic homes and quiet, tree-lined streets. The Lincoln Park Craft District is a trendy area with breweries, restaurants, and shops, effectively driving a demand for both residential and commercial spaces.
The iconic Aerial Lift Bridge, the scenic Lakewalk along the waterfront, and the historic Glensheen Mansion draw tourists to the area year-round. Outdoor enthusiasts are drawn to Duluth for activities like hiking in nearby state parks, skiing at Spirit Mountain, and sailing on Lake Superior. These attractions make Duluth a desirable place while also supporting a thriving tourism industry. This provides consistent demand for short-term rental properties and hospitality-related investments.