The downtown Minneapolis apartment market continues to rebound from the COVID-19 pandemic’s lingering effects and the civil unrest that occurred following the murder of George Floyd in May 2020. A growing number of residents who fled to the suburbs during that tumultuous year have returned to the city. More broadly speaking, apartment rental demand is up across the metro area, rents have hit an all-time high, and occupancy rates have remained steady in the mid-90s percentagewise. Perhaps best of all for investors is that cap rates in the Minneapolis market …
