- Created: Tuesday, 13 March 2018 12:12
- Written by Gabriela Norton
Today, the National Low Income Housing Coalition (NLIHC) released The Gap: A Shortage of Affordable Rental Homes, outlining both state and metro shortages in affordable homes, especially for low-income families.
According to the report, which relies on 2016 ACS PUMS data, 43 percent of all renters in the Minneapolis - St. Paul - Bloomington metro area are cost burdened (paying more than 30 percent of their income on housing) and 22 percent are severely cost burdened (paying more than half of their income on housing).
Those numbers are even more stark for extremely low-income (ELI) families. More than 107,500 households earn less than 30 percent of area median income (AMI), or less than $25,750 for a family of four. A striking 78 percent of households in this income bracket are cost-burdened, with 63 percent paying more than half of their income on housing.