$0
Average Rent
$1,549 average rent in Twin Cities, Q2 2026
0%
Occupancy Rate
95% occupancy rate Twin Cities, Q2 2026
0
T4Q Net Absorption
5,372 T4Q net absorption in Twin Cities, Q2 2026
0%
Annual Rent Change
3% annual rent change in Twin Cities, Q2 2026
0
BPS Annual Occupancy Change
0 BPS annual occupancy change in Twin Cities, Q2 2026
0
T4Q Unit Completions
4,240 T4Q net absorption in Twin Cities, Q2 2026
Key Takeaways
- Demand continues to outpace supply, with trailing 12-month absorption of 5,372 units exceeding 4,240 units delivered, and 34 of 37 submarkets posting positive absorption.
- The construction pipeline is contracting, with trailing 12-month starts declining to 3,846 units and 6,117 units under construction (2.1% of inventory), positioning the market for reduced delivery pressure through 2027.
- Rents have accelerated to $1,549 per unit, up 2.7% year over year and 1.5% quarter over quarter, while stabilized occupancy of 94.7% has held roughly flat annually and gained 20 basis points from the prior quarter.
Market Outlook
Minneapolis is moving past the peak of its supply cycle into a more balanced operating environment. Both completions and new construction starts have pulled back sharply…
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