Twin Cities Multifamily Market Report – September 2025

Market Overview

‍The Twin Cities multifamily market held its ground in Q3 2025, with average advertised rent at $1,590, up 2.2 percent from a year ago and just above the national average. Occupancy in stabilized assets remained strong at 95.5 percent even after four years of elevated supply. New deliveries through July totalled 3,437 units, about 1.3 percent of existing inventory, highlighting that supply growth is decelerating.

‍About Yardi Matrix

‍Yardi Matrix is a data-driven research firm specialising in multifamily housing markets. Their Twin Cities market snapshot provides actionable insights on rent trends, occupancy, completions and investment activity, helping owners, developers and investors evaluate timing and strategy. To read the full report, click here.