Report: Shortage of affordable rentals in Minn.
Published 9:06 am Tuesday, August 13, 2013
ST. PAUL — A new report says there’s a shortage of affordable rental housing in most Minnesota counties.
The analysis from the Minnesota Housing Partnership says that in all but three of the state’s counties there are more low-income renters than affordable units.
Researcher Leigh Rosenberg said that since 2000, rents have risen about 6 percent statewide, but renter incomes have dropped about 17 percent.
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Rents are highest in the Twin Cities area. Stearns and Kanabec counties have the least affordable housing available. The report says housing is considered affordable if a family spends less than 30 percent of its income on rent.