Minneapolis Multifamily Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, Northmarq, Marcus & Millichap, Colliers
Quarterly multifamily market indicators for Minneapolis, aggregated by CREhunt from Cushman & Wakefield, Northmarq, Marcus & Millichap, Colliers. As of Q2 2026, average asking rent was $1,546.00/unit/mo and vacancy was 5.4%, per Cushman & Wakefield.
Projected current multifamily pricing — Minneapolis
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Minneapolis multifamily yet, so this applies the typical cap rate across comparable multifamily markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 5.1%–6.0%, asking rent trend-adjusted to today). Assumes ~95% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $1,546.00/unit/mo | 5.4% | 3K SF | 6K SF | Cushman & Wakefield |
| Q1 2026 Cushman & Wakefield | $1,557.00/unit/mo | 6.1% | 6K SF | 876 SF | Cushman & Wakefield |
| Q1 2026 Northmarq | — | — | — | — | Northmarq |
| Q4 2025 Northmarq | $1,620.00/unit/mo | — | — | — | Northmarq |
| Q4 2025 Marcus & Millichap | $1,593.00/unit/mo | 5.0% | — | — | Marcus & Millichap |
| Q4 2025 Cushman & Wakefield | $1,543.00/unit/mo | 6.0% | 6K SF | 4 SF | Cushman & Wakefield |
| Q3 2025 Northmarq | $1,600.00/unit/mo | 4.3% | — | — | Northmarq |
| Q3 2025 Cushman & Wakefield | $1,543.00/unit/mo | 5.5% | 7K SF | — | Cushman & Wakefield |
| Q2 2025 Northmarq | — | 4.7% | — | — | Northmarq |
| Q1 2025 Colliers | — | 21.8% | — | — | Colliers |
| Q1 2025 Cushman & Wakefield | $1,542.00/unit/mo | 7.1% | 2K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for multifamily space in Minneapolis?
- As of Q2 2026, the average asking rent for multifamily space in Minneapolis was $1,546.00/unit/mo, per Cushman & Wakefield.
- What is the multifamily vacancy rate in Minneapolis?
- The multifamily vacancy rate in Minneapolis was 5.4% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Minneapolis market data come from?
- This report aggregates quarterly multifamily market data for Minneapolis from Cushman & Wakefield, Northmarq, Marcus & Millichap, Colliers.