Average Twin Cities rent $855. See a problem?
We do not know whether poverty or homelessness came first, but it is clear that homelessness is closely related to the scarcity of affordable housing. The Greater Twin Cities United Way has found that more than 36% of the residents of the metropolitan area spend more than 30% of their total household income on housing costs today, giving these residents the dubious distinction of living in non-affordable housing. Although jobs and wages increased in this area in the 1990’s, average apartment rents and the average cost of starter homes increased faster, because the creation of these lower-end-of-the-market types of housing stalled. The result has been very low vacancy rates, increasing rents and application fees and severe competition for the available housing. The result is that, for increasing numbers of families, adequate housing is out of reach. The National Low Income Housing Coalition compares the average fair market rent for a two-bedroom unit to the average wages paid in that co
