MHP's 2014 County Profiles, released this week, reveal that affording rent is now more difficult for renters than it was in the year 2000 in all but three of Minnesota's 87 counties. Rising rents and falling incomes for renters are to blame.
Since 2000, Minnesota's median rents have risen by 6%, while incomes for renters have fallen by 17%. This pattern plays out in most of the state's counties, with median rents rising in all but six counties, and renter incomes falling in most. The gap between rents and incomes has worsened in all but three Western Minnesota counties (Wilkin, Marshall, and Stevens) since 2000.
In addition to information about changes in rents and renter incomes, the 2014 profiles are packed with other information, including data about homelessness, the housing stock, costs to rent and own, and workers' wages. Profiles for Minnesota's 87 counties and the state as a whole, as well as charts, maps, and analysis, are available here.
Some other summary findings include:
- In 98% of counties (or 85 out of 87), there is a shortage of apartments affordable and available to extremely low income renters in need of housing.
- Working full time at the median income for their occupation, food preparation workers and retail salespeople cannot afford to rent a two-bedroom apartment in any county across Minnesota.
- Some of our state's oldest and youngest members are at risk of homelessness.
- As a state, Minnesota has the nation's largest racial homeownership gap. 77% of white, non-Hispanic households own a home, compared to 41% of households of color.
- The median sales price for non-foreclosed homes was $180,000 in 2013 in Minnesota, which is a real decrease of 22% since 2006.
- More than a third of Minnesota's housing units are 50 years old or older. In many Greater Minnesota counties, a majority of the stock is this old or older. Aging homes create health and safety concerns and can have very high heating costs.
Be sure to check out how your county fares, and like, tweet (#CountyProfiles), share, or amplify the information to get the word out about housing in your area.