Fueled by robust household formation and the overall lack of available for-sale housing inventory, the Twin Cities' apartment market saw record demand formation in 2021. Annual net absorption, which measures the difference between move-ins versus move-outs, eclipsed 11,000 units, more than double the market's previous all-time high posted in 2019 and over four times the Twin Cities' historical annual average.
Despite Banner Year, Minneapolis Apartment Rent Growth Trails Major Markets
One of the Heaviest Supply Waves in the Nation Weighs on Twin Cities Apartment Rents
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