Despite an unprecedented stretch of development keeping Minneapolis' multifamily vacancy rate near an all-time high entering mid-2024, the market's annual rent growth of 1% matches the national average. While that still trails the five-year pre-pandemic average of 2.9%, it is impressive in the context of the historic recent supply wave.
Twin Cities Multifamily Rent Growth Resilient but Bifurcated
Suburbs Drive Gains While Select Urban Pockets Struggle With Structural Shifts in Demand
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