Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Supply of rentals in Twin Cities tightest in five years.

Posted by: Jim Buchta under Buying Updated: April 28, 2011 - 4:18 PM

 

 

Finding an apartment in the Twin Cities metro area is going to be more challenging — and expensive — than it’s been in a half decade. The overall vacancy rate in the Twin Cities metro area during the first quarter fell to 3.1 percent, its lowest level in five years , according to GVA Marquette Advisors.
Rent prices remained fairly stable, but are expected to rise in the coming months as demand exceeds supply, giving landlords the opportunity to raise rents. A year ago the average vacancy rate was six percent.

Are you finding rentals in short supply? Is your landlord raising the rent? 

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