Demand exceeded supply in Q2 2025, with 2,367 units absorbed compared to 1,361 delivered, signaling tightening fundamentals and a notable recovery from weaker absorption seen in recent years.
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New deliveries are slowing sharply, with H1 completions at their lowest level since 2016 and under construction inventory at a decade low, easing supply pressure and supporting occupancy stabilization.
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Annual rent growth accelerated to 2.4%, placing Minneapolis among the top 10 U.S. markets, while occupancy improved to 94.6%, above both the national average and the metro’s three-year trend.
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MARKET OUTLOOK
Minneapolis is regaining its footing as a slowdown in new supply, paired with a moderate demand recovery, helps restore balance...
