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Management Analysis

Average Rent by City

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.

Last updated: 4/11/2013 4:25 AM