1 in 4 Minnesota families pay more than they can afford for housing, report says
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(FOX 9) - More than one in four Minnesota families pay more than they can afford for housing, according to a new report.
The Minnesota Housing Partnership released the 80-page State of the State’s Housing 2021 report Thursday.
The report found there is a critical need for low-income housing for those making under 30% of the area median income. More than 169,000 households in Minnesota fall into that category, according to the report, but the state only has around 64,000 affordable and available units for low-income renters.
As housing costs rise and wage growth stays the same, MHP says the problems will continue to grow.