Demand for multifamily units in Twin Cities remains robust

Despite some broader economic uncertainty, demand for apartments in Minneapolis and St. Paul, Minnesota, remains historically strong. Not only was third-quarter absorption — the net change in occupancy — of more than 3,100 units nearly triple the 2015-2019 average in the Twin Cities, but it also marked the second straight quarter of top-five multifamily demand since CoStar began tracking the data in 2000.