Minneapolis Market Research
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Twin Cities Attracts Thousands of High-Paying Jobs; Renter Demand On the Rise
The Twin Cities are expected to sustain a tight rental market with above-average job growth and a high median household income, while inventory falls short of demand. High-skill jobs in the metro generate a median household income of $69,000, significantly higher than the national average. Furthermore, the unemployment rate for Minneapolis-St. Paul is the lowest of all large metropolitan areas, supporting household formation. Additional job growth is projected this year in the trade, transportation and utilities; leisure and hospitality; professional and business services; and education and health services sectors. For example, UnitedHealth Group and UPS will expand payrolls by a collective 3,100 workers within the next six months. Meanwhile, Amazon and Comcast will bring 1,400 jobs to the metro next year. Despite the construction of thousands of new apartments, vacancy remains well below 4 percent, which is among the lowest […]
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