Posted at: 09/19/2012 3:40 PM
Updated at: 09/19/2012 6:41 PM
By: Joe Mazan
Twin Cities Rental Market Boom Means Higher Rent
There's a rental market boom going on in the Twin Cities.
Even though hundreds of new apartments have come online in Minneapolis, they're still getting more expensive and harder to find.
According to rentjungle.com, rent for one bedroom apartments in Minneapolis has gone up 8% just since last August, from $781 a month to $843 on average.
Minnesota Association of Realtors tells us the recession has lead more people to rent but they have to move fast.
A new 100 unit apartment building opened last month in the North Loop of Minneapolis and it's already 90% full.