Minnesota continues to be the least affordable state for renters in the Midwest, according to new Out of Reach data for 2012. In order to afford a modest two-bedroom apartment, a minimum wage earner would have to work 86 hours per week – or hold 2.1 full time jobs -- in Minnesota.
Again this year, Out of Reach is a sobering reminder of how unaffordable rents are for many of us. To find out how your county or metropolitan area stacks up, see MHP's Minnesota maps and data for Out of Reach 2012 and NLIHC's national data, analysis, and maps.
Many Minnesota renters are in trouble.
In order to afford the rent and utilities for a safe, modest 2-bedroom apartment in the private housing market, a Minnesota worker must earn $15.50 per hour, 40 hours a week, all year long. By contrast, the typical renter in Minnesota earns $12.17 per hour. Minimum wage pays only $7.25 per hour.
An estimated 54% renters in Minnesota do not earn enough to afford a two-bedroom unit at the "fair market rent" where they live.
While Twin Cities metro rents are the most expensive, affordability woes are not limited to the metro area, the report finds.
A modest two-bedroom apartment requires a full time worker to earn $17.38 per hour year-round -- the most expensive in the state. Yet the counties least affordable to renters, given the incomes they earn, are distributed throughout the both Metro and Greater Minnesota Counties.
The top 5 least affordable counties with the highest estimated percent of renters unable to afford a modest two-bedroom apartment are Wadena (67% unable to afford), Carlton (62%), Winona (62%), Chisago (61%), and Ramsey (61%) Counties.
Out of Reach, the annual National Low Income Housing Coalition report was jointly released for Minnesota by MHP and the Minnesota Coalition for the Homeless. The report provides rental affordability data for every state, metro area, and county in the country.
Do you Tweet? Help get the word out about lack of housing affordability in your part of the state on Twitter! Remind the "Twittersphere" that when families can't afford the rent and are forced to move or become homeless, learning and development of children is at risk-- jeopardizing our shared future. Hashtags are: #FollowMHP; #bond4housing; #OOR2012