From the Minnesota housings partnership state of housing report for 2021
- Housing costs are increasing. Housing costs continue to increase disproportionately to income. Between 2000 and 2019, the median renter income in Minnesota increased by just 1 percent, while median gross rent for the state increased by 14 percent.
- Cost burden disparities magnified. The cost-burden disparity for renters and homeowners of color is stark. In Minnesota, 44 percent of white renters are cost-burdened; in contrast, 58 percent of Black renters — 82,364 renter households — pay more than they can afford on housing.
- Wages are not keeping up with housing costs. Of the top five in-demand jobs in the state, three do not earn enough for quality housing to be affordable. Relatively low-earning positions central to the healthcare industry, particularly home health and personal care aides and nursing assistants, are expected to see some of the largest increases in demand over the next ten years.
Housing costs are likely to keep rising at least for the next decade or so. The problem is twofold. We need more higher-paying jobs and more affordable housing.
More than half of all St. Paulites are renters paying an average of $1,330 a month for a little over 800 square feet. The shortage of homes for sale and affordable housing will continue to drive rents and homes prices up in 2021.
