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RENTAL MARKET ANALYSIS
<br />TABLE R-1
<br />AVERAGE RENTS/VACANCIES TRENDS
<br />FIRST QUARTER 2019
<br />Total Studio 1 BR
<br />2 BR
<br />3 BR
<br />Outlying Anoka County Submarket
<br />of
<br />Units
<br />1,679
<br />118
<br />423
<br />615
<br />220
<br />o
<br />No. Vacant
<br />66
<br />5
<br />19
<br />22
<br />8
<br />N
<br />Z
<br />Avg. Rent
<br />$1,505
<br />$2,555
<br />$1,407
<br />$1,393
<br />$1,455
<br />Vacancy
<br />3.9%
<br />4.2%
<br />4.5%
<br />3.6%
<br />3.6%
<br />co
<br />Units
<br />1,625
<br />118
<br />423
<br />595
<br />200
<br />o
<br />No. Vacant
<br />132
<br />6
<br />46
<br />50
<br />16
<br />N
<br />Z
<br />Avg. Rent
<br />$1,471
<br />$2,490
<br />$1,418
<br />$1,329
<br />$1,397
<br />Vacancy
<br />8.1%
<br />5.1%
<br />10.9%
<br />8.4%
<br />8.0%
<br />Outer Coon Rapids/Fridley/Blaine Submarket
<br />of
<br />Units
<br />11,815
<br />235
<br />3,472
<br />4,623
<br />963
<br />o
<br />No. Vacant
<br />390
<br />8
<br />105
<br />157
<br />44
<br />N
<br />Z
<br />Avg. Rent
<br />$1,073
<br />$845
<br />$975
<br />$1,150
<br />$1,374
<br />Vacancy
<br />3.3%
<br />3.4%
<br />3.0%
<br />3.4%
<br />4.6%
<br />co
<br />Units
<br />11,621
<br />235
<br />3,404
<br />4,543
<br />921
<br />o
<br />No. Vacant
<br />413
<br />14
<br />116
<br />164
<br />38
<br />N
<br />Z
<br />Avg. Rent
<br />$1,026
<br />$775
<br />$934
<br />$1,096
<br />$1,320
<br />Vacancy
<br />3.6%
<br />6.0%
<br />3.4%
<br />3.6%
<br />4.1%
<br />Dayton/Champlin Submarket
<br />of
<br />Units
<br />1,889
<br />5
<br />588
<br />976
<br />218
<br />o
<br />No. Vacant
<br />70
<br />0
<br />24
<br />36
<br />5
<br />N
<br />Z
<br />Avg. Rent
<br />$1,022
<br />$785
<br />$919
<br />$1,019
<br />$1,312
<br />Vacancy
<br />3.7%
<br />0.0%
<br />4.1%
<br />3.7%
<br />2.3%
<br />co
<br />Units
<br />1,705
<br />5
<br />527
<br />914
<br />157
<br />o
<br />No. Vacant
<br />51
<br />0
<br />18
<br />26
<br />3
<br />N
<br />Z
<br />Avg. Rent
<br />$1,001
<br />$730
<br />$895
<br />$999
<br />$1,292
<br />Vacancy
<br />3.0%
<br />0.0%
<br />3.4%
<br />2.8%
<br />1.9%
<br />Twin Cities Metro Area
<br />of
<br />Units
<br />286,318
<br />21,923
<br />121,636
<br />94,529
<br />16,201
<br />o
<br />No. Vacant
<br />12,558
<br />1,140
<br />5,469
<br />4,042
<br />773
<br />N
<br />Z
<br />Avg. Rent
<br />$1,221
<br />$1,002
<br />$1,100
<br />$1,362
<br />$1,572
<br />Vacancy
<br />4.4%
<br />5.2%
<br />4.5%
<br />4.3%
<br />4.8%
<br />co
<br />Units
<br />279,041
<br />20,609
<br />118,325
<br />92,402
<br />15,749
<br />0
<br />No. Vacant
<br />12,458
<br />1,122
<br />5,318
<br />4,100
<br />810
<br />N
<br />Z
<br />Avg. Rent
<br />$1,183
<br />$971
<br />$1,066
<br />$1,317
<br />$1,520
<br />Vacancy
<br />4.5%
<br />5.4%
<br />4.5%
<br />4.4%
<br />5.1%
<br />Sources: CoStar Group, Inc.; Maxfield Research & Consulting, LLC
<br />MAXFIELD RESEARCH AND CONSULTING 70
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