With the housing marking slowing down in Minnesota and especially in the Twin cities area, the rental market is picking up. People need to find housing, so they are renting instead of buying. According to the Star Tribune, the average rent in the Twin Cities is up $23 a month from the 3rd quarter in 2006 to the 3rd quarter 2007. Also the vacancy rate has gone down from 4% to 3.6% in that same time period. Rents should continue to rise and vancancy rates will continue to fall if the housing trend continues in the same path. Now is a great time to buy rental property. The combination of higher rents and low house prices make a great combination for good deals on rental property.