{"id":8968,"date":"2025-02-11T08:59:00","date_gmt":"2025-02-11T08:59:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8968"},"modified":"2025-06-24T09:10:45","modified_gmt":"2025-06-24T09:10:45","slug":"twin-cities-multifamily-market-report-january-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/twin-cities-multifamily-market-report-january-2025\/","title":{"rendered":"Twin Cities Multifamily Market Report \u2013 January 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/twin-cities-multifamily-market-report\/\">Twin Cities Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Rents Down, Occupancy Improves<\/h2>\n<p>The Minneapolis-St. Paul multifamily market remained balanced toward the end of 2024, as per the latest Twin Cities multifamily market report. Average advertised asking rents were down 0.2%, on a trailing three-month basis through November, to $1,529, mirroring the dip in the national growth rate, according to the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>U.S. multifamily market report<\/strong><\/a>. Meanwhile, the occupancy rate in stabilized properties increased 20 basis points year-over-year, to 95.2%.<\/p>\n<p><iframe id=\"datawrapper-chart-n1hMn\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Twin Cities vs. National Rent Growth  \" src=\"https:\/\/datawrapper.dwcdn.net\/n1hMn\/1\/\" height=\"328\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Employment in Minneapolis-St. Paul was up a modest 0.3% year-over-year as of September. The metro\u2019s growth rate was 110 basis points below the national average. Education and health services led growth with 20,400 positions, marking a 5.4% improvement. The area\u2019s unemployment rate stood at 2.7% as of October, 140 basis points below the U.S. figure, according to data from the Bureau of Labor Statistics. In Monticello, Minn., some 40 miles from Minneapolis, Frattalone Cos. submitted a proposal to build a 3 million-square-foot data center campus.<\/p>\n<p><iframe id=\"datawrapper-chart-c7jeg\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Twin Cities Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/c7jeg\/1\/\" height=\"433\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>A total of 8,957 units, or 3.4% of existing stock, came online last year through November in Minneapolis-St. Paul. The figure was 70 basis points higher than the national rate of completions. Apartments were mostly evenly distributed between urban and suburban submarkets. With $956 million in assets changing hands through November, the transaction volume picked up and surpassed 2023\u2019s $655 million total.<\/p>\n<p>Read the full Yardi Matrix Twin Cities Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6787-MatrixMultifamilyTwinCitiesReport-January2025\" rel=\"\"><strong>January 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rents Down, Occupancy Improves The Minneapolis-St. Paul multifamily market remained balanced toward the end of 2024, as per the latest Twin Cities multifamily market report. Average advertised asking rents were down 0.2%, on a trailing three-month basis through November, to $1,529, mirroring the dip in the national growth rate, according to the U.S. multifamily market [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,473],"class_list":["post-8968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","tag-twin-cities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Twin Cities Multifamily Market Report \u2013 January 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Average advertised asking rents in Minneapolis-St. Paul were down 0.2 percent on a T3 basis through November, to $1,529.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/twin-cities-multifamily-market-report-january-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Twin Cities Multifamily Market Report \u2013 January 2025\" \/>\n<meta property=\"og:description\" content=\"Average advertised asking rents in Minneapolis-St. Paul were down 0.2 percent on a T3 basis through November, to $1,529.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/twin-cities-multifamily-market-report-january-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-11T08:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-24T09:10:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/10\/Twin-Cities_iStock-2183853711-feature.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madalina Pojoga\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Twin Cities Multifamily Market Report \u2013 January 2025 - 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