"Adjusted for inflation, rent is down in every [St. Paul] neighborhood in the city since 2020...citywide average rent has dropped from almost $1,600 in 2020 to between $1,400 and $1,500 at the end of 2025."
Be still, my heart! Turns out good policy, not landlord or developer puffery, lowers rents.
The Minneapolis Fed looked at the effects of St. Paul rent control and zoning liberalization and found falling rents but “mixed results” for housing production.
