{"id":6808,"date":"2026-09-30T09:37:43","date_gmt":"2026-09-30T09:37:43","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6808"},"modified":"2026-09-30T09:37:46","modified_gmt":"2026-09-30T09:37:46","slug":"twin-cities-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/twin-cities-multifamily-market-report\/","title":{"rendered":"Twin Cities Multifamily Market Report \u2013 September 2026"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-twin-cities-fundamentals-lose-momentum\">Twin Cities Fundamentals Lose Momentum<\/h2>\n\n\n\n<p><br>The Twin Cities\u2019 average advertised asking rents rose 0.2%, on a trailing three-month basis through July to $1,646, in lockstep with the national growth rate. Year-over-year, the metro\u2019s average increased 2.4%, well ahead of the 0.2% U.S. gain. Renter-by- Necessity properties slightly outperformed Lifestyle assets for the first time since June 2025. Meanwhile, occupancy in stabilized properties stood at 95.4%, down 20 basis points year-over-year but above the 94.7% national average, according to the <a href=\"\/blog\/national-multifamily-market-report\/\"><strong>U.S. multifamily market report<\/strong><\/a>.<\/p>\n\n\n<p><iframe id=\"datawrapper-chart-QQIw0\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Twin Cities vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/QQIw0\/1\/\" height=\"334\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><\/p>\n\n\n<p>Employment growth in the metro declined 0.2% year-over-year through May, placing the metro near the bottom among comparable markets. Unemployment stood at 4.4% in June, above the 4.1% national and 4.2% Minnesota averages, according to preliminary Bureau of Labor Statistics data. Notable projects driving the local economy include MSP Airport\u2019s $268 million Terminal 2 expansion and the 14.5-mile METRO Green Line Extension, which is slated to open in 2027.<\/p>\n\n\n<p><iframe id=\"datawrapper-chart-NfRSu\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Twin Cities Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/NfRSu\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><\/p>\n\n\n<p><br>Developers completed just 1,852 apartments through July, down sharply from the 5,351 units during the same period last year. Yardi Matrix expects 5,619 units to come online in 2026. Investment activity also slowed, with multifamily sales totaling $737 million through July, compared to $1 billion a year earlier. Despite more properties trading, the average price per unit fell nearly $77,000 to $133,378, remaining well below the $185,325 national figure.<\/p>\n\n\n\n<p>Read the full Yardi Matrix Twin Cities Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/multifamily-metro\/matrix-multifamily-twin-cities-report-september-2026\/\"><strong>September 2026<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twin Cities Fundamentals Lose Momentum The Twin Cities\u2019 average advertised asking rents rose 0.2%, on a trailing three-month basis through July to $1,646, in lockstep with the national growth rate. Year-over-year, the metro\u2019s average increased 2.4%, well ahead of the 0.2% U.S. gain. Renter-by- Necessity properties slightly outperformed Lifestyle assets for the first time since [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":10917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[519,473],"class_list":["post-6808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2026","tag-twin-cities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Twin Cities Multifamily Market Report | Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Get the latest Twin Cities multifamily market report from Yardi Matrix to learn about market 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