Just Listed: Twin Cities scores high in rental property survey

After several major deals last year, out-of-town investors are expected to invest a near-record amount of money in Twin Cities rental properties this year.

So it should come as no surprise that the Twin Cities was recently named the best Midwestern market and eighth-best in the U.S. in terms of attractiveness for rental real estate investment, according to a new report from Seattle-based All Property Management, an online, nationwide network of more than 2,500 property management companies in 75 major rental markets across the U.S.

That ranking was based on year-over-year median rental price gains during the first quarter of 5.36 percent — almost twice as high as the national average. Other factors included the region's "extremely low" median age of housing inventory of 43 days — the sixth-lowest in the country — and an average vacancy rate of 4.40 percent, which was significantly smaller than a 7.12 percent national average.

Those indicators suggest that demand for rental housing in the area "is high and will only continue to grow," the report said. "The time for professional and amateur rental property investors alike to invest in the Minneapolis rental market is now."

The Twin Cities was bested by several bustling metros, including San Francisco, Denver, Raleigh, Louisville, Seattle and Austin.