There have been numerous stories recently about the tightening supply of rental housing in the Twin Cities. The latest story from Star Tribune details the struggles some renters have had in finding a place to rent and reveals to us that the apartment vacancy rate in the Twin Cities is now at an astoundingly low 2.4%.The housing boom created strong demand for condo conversions, which ate up a lot of rental housing. Then the housing bust killed demand, financing and developer interest in building more apartments. … [Read more...]
Twin Cities Housing By The Numbers: MHP's "2×4" Report
June 17, 2011 by 2 Comments
The Minnesota Housing Partnership just released their latest version of their "2x4" Report and there are some important takeaways: 3.1% The vacancy rate of of rental units in the Twin Cities - the lowest since 2001 and well under the "balanced market" level of 5%. Vacancy rate was over 7% just 18 months ago. $916 Average rent, up for the last 3 straight quarters. 13% Percentage of renters in non-luxury units with past due rent - down from approximately 24% in Q2 2009. 6% Percentage of mortgages in Minnesota that … [Read more...]
House/Condo/Townhome Rentals Coming Soon to Twin Cities MLS
August 2, 2010 by Leave a Comment
The Minnesota Association of REALTORS is preparing to release standardized forms to allow REALTORS in all of Minnesota to more easily represent both landlords and prospective tenants in leasing situations and simplify transactions across different brokerages. Further, for those REALTORS serving the St. Cloud, Twin Cities and Western Wisconsin areas, NorthstarMLS is putting the final touches on the computer systems that will permit its members to easily enter for-rent properties into the MLS for searching by other … [Read more...]
