With vacancy rates down, rental rated up, and dollar value transactions soaring at the the end of 2016, forecasters see good times ahead in Minneapolis for investment in the apartment market. They also see a definite swing toward value-add development, with a continued demand for more apartment units despite record-breaking volume over the previous three quarters.
Trends in Supply & Demand
Local trends for Minneapolis-St. Paul-Bloomington mirror what's happening throughout the country, with apartment supply in 2016 placing the area 34th among the nation's top 50 markets. Houston and Dallas-Fort Worth continue to rank as the country's hotspots, with Austin, Texas not far behind. New construction is expected to reach record levels once again.
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