MINNEAPOLIS (WCCO) – The Twin Cities rental market continues to buck a national trend.

Zillow just released a new report for March. The website, which tracks real estate information, said nationwide home rental prices shot up 3.7 percent last month from a year ago.

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Here in Minneapolis and St. Paul, rates dropped four-tenths of a percentage point. Chicago was the only other major metro to see rates fall.

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The Twin Cities also saw rental rates drop in January.

When WCCO looked into it back then, the CEO of Renter’s Warehouse said there are a lot of vacancies right now because of all the new apartments going up in both downtowns.

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He thinks the trend of lower rents could hang around for the next two years.