I read recently that over 40% of people age 30-44 are renters. In the core cities of Minneapolis and Saint Paul, that number is much higher. Via Insight News, here’s the current picture about rents and rental vacancy in the Twin Cities metro:
With rising demand for rental units nationwide and in Minnesota, housing construction in the state is beginning to rebound, particularly for multi-family units. Through May of this year, 7,000 units were permitted statewide, the highest since 2006. Of these units, a record 39% were multi-family units, the report found.
What do you think? Should the Twin Cities be building a lot more apartments? If not, how else could we keep rents affordable?