Why this is important
The rental market is an indicator of housing affordability in the county.What the data show
The figure below shows the average rent of 2-bedroom units in the five Dakota Cities with the most population growth in 2012. Of these cities, between 2011 and 2012, the average 2-bedroom rent in Rosemount decreased 9% (or $86); however, the average 2-bedroom rent in Farmington increased by 1.9% (or $13). The countywide average rent increase was 1.5% (or $14) in the same period. Since 2008, the county has seen a slight increase in rental costs; this may be affected by the increasing number of foreclosures in the county and declining vacancy rate, meaning more competition for the units.