Matrix Multifamily Twin Cities Report-May 2022 May 19, 2022

Twin Cities’ Gradual Recovery

Rent growth in Minneapolis-St. Paul slowed in the first quarter, marking one of the lower increases among major markets. As of March, the metro’s average rent was $1,433, up 0.2 percent on a T3 basis. Completions also moderated, with only 1,018 units coming online so far this year.