After adjusting for inflation, rents have increased in 82 of Minnesota’s 87 counties since 2000, with some of the steepest rises coming outside the Twin Cities.
Those higher housing costs are putting pressure on many low-income people and seniors, according to a report today from the Minnesota Housing Partnership.
The report says nine Greater Minnesota counties have seen rents rise by 30 percent or more since 2000. At the same time, median renter income fell statewide by 17 percent, the report said.
Other findings in the report:
- Rental construction has been at or near a standstill in half of the state’s counties. From 2009 to 2014, half of Minnesota’s counties had a total of 20 or fewer new multifamily units permitted. Lack of new supply contributes to rising rents.
- No county has a sufficient supply of rental housing for extremely low-income (ELI) renters. In over a quarter of the state’s counties, for every 100 ELI renters, there are only 30 units or fewer affordable and available to them.