COVID-19 Resources Newsletter Signup Need Housing Help? ABOUT US HOW TO HELP REPORTS & TOOLS NEWS & STORIES CONTACT Search SEARCH The Housing Challenge The Twin Cities region is losing affordability. Families are struggling to find good quality, affordable homes throughout the Twin Cities metro region. Unlike food, medical care, and education, housing is a basic need with no entitlement and insufficient federal and state funding sources. As a result, the vast majority of households who qualify for housing assistance do not receive any help. Our housing shortage is growing. 370k households are cost burdened Households pay 30% or more of their income on housing. 3,500 short in production annually Housing production is not meeting demand. 1,300 rental units raise prices beyond affordability Each year, homes lose affordability after sale or renovation. Homeownership is increasingly out of reach. $262k median price of single-family homes Home prices increased 7% in one year (2017-2018) and are still rising. 1% increase in household income Wages have not been able to keep up with the rising costs of homes. Racial gaps among the highest in the nation Just 23% of black households own their homes, compared to 76% of white households. Our broken housing system has a devastating impact. 11.4k evictions filed The vast majority are due to nonpayment of rent. 48k future jobs at risk Workers will not be able to afford to move to the region to fill new jobs. $4.3 billion in economic loss Slow job growth could result in a significant loss to the Gross Regional Product. A Complicated System Over the last 80 years, new types of affordable housing programs have been developed to match new funding created. While these programs helped create additional affordable homes, they also imposed new layers of regulation and process. As a result, today we have a complicated and highly segmented system that doesn’t function well for families who need it. Now, more than ever, we need more homes. But we also need systems change that gives more people access to decent, affordable homes so they can build a prosperous life for themselves, today and in the future. When families have an affordable place to call home, whether as a homeowner or renter, they have a sense of belonging. They have a sense of community. They have opportunities to create wealth and build a better life. A coordinated and collaborative approach is necessary for tackling the challenge before us. Together, we can build a strong housing system that allows people, communities, and the region to prosper. Learn More RESEARCH ON THE HOUSING CHALLENGE REPORT Housing and Economic Growth in the Twin Cities Region The Twin Cities region is on a trajectory to become as expensive as cities such as Seattle and Denver. MORE FACT SHEET Working Doesn’t Always Pay for a Home The average single-family home is too costly for many working individuals and families to buy. MORE Subscribe SIGN UP FOR OUR NEWSLETTER Home Contact Us Linkedin Twitter Facebook 310 4th Ave. South | Suite 9000 | Minneapolis, MN 55415 | Directions & Parking