- Created: Tuesday, 10 September 2013 11:34
In a heated housing market, rents in the Twin Cities have been rising at the fastest rate since the early 2000s. Rents have increased 8.5% in the last three years, and now average $979 per month, according to data in the our newest "2 x 4" Report, which covers the second quarter of 2013.
As the cost of housing rises, renters with limited incomes are facing an ever more serious shortage of apartments affordable to them. Fully 98% of area apartments renting for under $1,000 are already occupied, the report says.