“Minnesota must face the growing crisis of families being unable to cover housing costs,” said Chip Halbach, Executive Director of the Minnesota Housing Partnership. “The price we will pay for our inaction will be seen across the age spectrum, from school children with unstable homes falling behind in their studies to senior citizens forgoing medicine and food to retain their shelter.”
“The shortage of stable and sustainable rental housing is hurting communities throughout Minnesota — and we need to address this issue now,” said Jeremy Schroeder, Policy Director for the Minnesota Housing Partnership. “The rising costs of rent and the shrinking supply of available units makes growth in greater Minnesota impossible. It’s clear that the most important way we can help struggling working families is to provide more access to affordable, stable housing.”
Housing Wage Far Exceeds What Many Minnesotans Earn
In Minnesota, the Housing Wage -- what workers must earn to spend 30% or less of their income on housing -- increased to $17.76in 2016. That's far higher than the minimum wage and exceeds the median renter income, as well.
Cost of Rent Out of Reach for Many Minimum Wage Earners -- and Median Renter Income
Minimum wage workers can’t afford the fair market rent for a one-bedroom apartment in any Minnesota county without working more than 40 hours per week. Despite a range of housing market conditions, the “housing wage” needed to afford the fair market rent for a two-bedroom apartment is more than renter median income in the vast majority of Minnesota counties. See much more data and analysis in the full report here.