Market Watch Report Underscores Dramatic Gap in Affordable Housing in Saint Paul
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- Created: Monday, 30 July 2018 12:38
- Written by Carolyn Szczepanski
Across the Twin Cities, the growing ranks of renter households are facing an increasingly challenging housing market with rising rents and declining vacancy rates. While developers are leveraging public and private resources to create new affordable units, current owners of unsubsidized rental properties have few tools to preserve and improve aging properties to maintain homes for current and future tenants.
Building on our 2016 "Sold Out" report, Minnesota Housing Partnership launched a new research series tracking key trends in the unsubsidized multifamily rental markets across the Twin Cities.
This second report, published in July 2018, analyzes data for approximately 28,740 unsubsidized rental units in properties with four or more units in Saint Paul from the CoStar database.
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As Detroit emerged from bankruptcy and the Great Recession, locals sought an effective strategy to attract and retain employees of local businesses in the Midtown area, a thriving center for arts, education, and medicine. With rental, homebuyer, and homeowner incentives for employees of three major partner institutions – including Wayne State University, Detroit Medical Center, and Henry Ford Health System – 