The high-end rental market shows no signs of cooling as new apartment developments keep sprouting up in the city.
More than 3,000 new apartment units opened in 2013 throughout the Twin Cities, according to Marquette Advisors’ latest Apartment Trends report.
Downtown Minneapolis accounted for 1,653 of those units, according to Marquette Advisors. The Uptown area has also seen significant rental construction activity.
Rents have also been increasing with some projects featuring units leasing at more than $3,000 a month.