Vacancies are Few All Across the Twin Cities Apartment Market
Every submarket in the Minneapolis/St. Paul area has an occupancy rate around 96 percent or better. As a result, rent growth was unusually high (by local standards) in 2011.
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Minneapolis
Minneapolis Rents Are Up Sharply
The Minneapolis/St. Paul apartment market suddenly is a red hot market for rent growth. Greg Willett explains why.
Rental Rates Surge in the Twin Cities
After only moderate rent growth in 2010, Minneapolis/St. Paul led the nation for same-store rent growth in 1st quarter 2011.
Vacancies are Few in the Twin Cities, But Rent Growth Remains Quite Limited
Vacancies are rare in the Twin Cities — but so are meaningful rent hikes.
The Minneapolis Apartment Market Is Tightening
Minneapolis tends to register the strongest apartment occupancy rate across the Midwest’s larger markets, and that’s the case again currently. The Twin Cities apartment base of about 269,000 units was 95.5 percent full as of mid-2010, outperforming the norm for the Midwest region by nearly 2 full percentage points. Although occupancy hasn’t gotten all the way back to the 96 to 97 percent level that was posted in 2007, some progress is occurring, as June 2010 occupancy topped the late 2009 rate by 1.9 points.