Matrix Multifamily Twin Cities Report-May 2023 June 01, 2023

Twin Cities Readjust

Following two record years for both development and sales, the Twin Cities’ multifamily growth slowed. In the first quarter, only 475 units came online, and transaction activity stalled. Rents, however, ticked up 20 basis points to $1,465, while U.S. rates plateaued at $1,706.