According to Forbes, Minneapolis currently has the second lowest rental vacancy rate in the nation at 3.3%. This is in accordance with what we saw occur over the fall and winter time period where a good amount of our clients were choosing to rent for a short period of time in between selling their home and purchasing another. While this did mean multiple moves, it allowed some of our clients time to breathe when their home sold a little quicker than they thought it would and they weren’t quite ready to purchase yet. We also saw nearly all of our short-sale clients end up renting after their sale closed. Buyer activity has definitely been picking up over the past couple weeks, but we’ll see if that becomes a trend instead of a mirage, or if clients continue to choose rentals over purchases.
The Top 10 from Forbes:
- New York, NY: 2.4% vacancy
- Minneapolis, MN: 3.3% vacancy
- San Diego, CA: 3.4% vacancy (tied)
- San Jose, CA: 3.4% vacancy (tied)
- Jersey City, NJ: 3.5% vacancy
- San Francisco, CA: 3.6% vacancy
- New Haven and Fairfield County, CT: 3.7% vacancy
- Portland, OR: 3.8% vacancy
- Philadelphia, PA: 3.9% vacancy
- Milwaukee, WI: 4% vacancy
The full post is here: 10 Cities Where the Rental Markets are Rebounding (Forbes)






