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RCG 17 Guide to Markets FINAL[1]

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SECTION 2 | METRO FORECAST SUMMARIES<br />

Minneapolis Occupancy Rate His<strong>to</strong>ry and Forecast<br />

Souces: Reis, Inc. His<strong>to</strong>ry and RCR Forecasts<br />

RED 49 Occupancy Rate<br />

Minneapolis Occupancy Rate<br />

98%<br />

97%<br />

96.3% 96.2%<br />

96.4% 96.4%<br />

96.1% 96.2%<br />

96%<br />

95%<br />

94%<br />

4Q13 4Q14<br />

4Q15 4Q16 4Q<strong>17</strong> 4Q18 4Q19 4Q20 4Q21 4Q22<br />

Minneapolis Rent Growth His<strong>to</strong>ry and Forecast<br />

Souces: Reis, Inc. His<strong>to</strong>ry and RCR Forecasts<br />

RED 49 Year-On-Year Rent Growth<br />

Minneapolis Year-On-Year Rent Growth<br />

7%<br />

6%<br />

5%<br />

3.9%<br />

3.6%<br />

4%<br />

3.0%<br />

2.7% 2.8%<br />

3.1%<br />

3%<br />

2%<br />

4Q13 4Q14<br />

4Q15 4Q16 4Q<strong>17</strong> 4Q18 4Q19 4Q20 4Q21 4Q22<br />

Minneapolis Payroll Job His<strong>to</strong>ry and Forecast<br />

Souces: BLS His<strong>to</strong>ry and RCR Forecasts<br />

RED 49 Year-On-Year Payroll Growth<br />

Minneapolis Year-On-Year Payroll Job Growth<br />

3.5%<br />

3.0%<br />

2.3%<br />

2.5%<br />

2.0%<br />

1.6%<br />

1.6%<br />

1.5%<br />

1.0%<br />

0.9%<br />

0.8%<br />

1.1%<br />

0.5%<br />

4Q13 4Q14<br />

4Q15 4Q16 4Q<strong>17</strong> 4Q18 4Q19 4Q20 4Q21 4Q22<br />

69

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