It's still a "landlord's market" in Minneapolis -- that's good news for investors, but how long will it continue?
The Continuing Apartment Boom
The apartment building boom that began in 2010 has not abated. With about 6,500 new units slated for completion by the end of 2017, and another 14,000 that are in various stages of planning and development across the Twin Cities, demand continues high and the vacancy rate remains low. For five years, the rate has been below three percent, and was at 2.7 percent for the second quarter of 2016. Although there has been some lag in the downtown area, which has been the city's hot spot for years, first and second ring suburbs continue to be active.
Outperforming Other Cities
Compared to other markets,…