Matrix Multifamily Twin Cities Report-January 2022 January 26, 2022

Twin Cities Carry On

Rents averaged $1,425 in November, marking a 0.5% uptick on a T3 basis. Investor appetite reignited as deals totaled $1.2 billion year-to-date through November, nearly 25% above the 2020 total deal volume. More than 18,000 apartments were under construction, with the bulk of them aimed at high-income residents.