The Twin Cities' average occupancy rate has improved by 40 basis points year-over-year, nearing its historical average of just over 95% and exceeding the national average, with further tightening expected as demand outpaces new supply.
Click Here
New supply has sharply slowed, with completions projected to fall nearly 70% year-over-year in 2025, setting the stage for tighter market conditions as demand continues to outpace deliveries.
Click Here
Rent growth remains relatively resilient at 1.7% despite past supply surges, outperforming the U.S. average, though downtown Minneapolis rents have yet to fully recover to pre-pandemic levels.
Click Here
MARKET OUTLOOK
The Minneapolis multifamily market is poised for continued tightening through the remainder of 2025 and into 2026...
