HOME Line’s Managing Attorney, Mike Vraa, shared insights on KARE 11 News into what challenges current and prospective renters face with the Twin Cities currently tight rental market. In addition to seeing more frequent and larger rent increases, renters who have imperfect rental or credit histories are finding it difficult to locate landlords that will accept them.
Low vacancy rates across the metro also creates barriers for families looking for affordable housing. For example, The National Low Income Housing Coalition recently estimated that to afford the $806 Fair Market Rent for a two-bedroom apartment a Minnesota household must earn a “housing wage” of $15.50/hour. That means a minimum wage earner ($7.25/hour) would need to work 86 hours per week to afford their housing.
Renters having trouble applying for apartments or negotiating rent increases can call our free tenant hotline for advice (612-728-5767 or 1-866-866-3546, toll free from outside metro) or consider purchasing our renters rights book for more guidance how to successfully navigate the rental market. Want to advocate for more affordable housing? The Minnesota Legislature is considering proposals to provide $40 million in funding for affordable housing production and preservation. Call your legislators to ask them to support the bills.
Housing vacancies scarce in Minneapolis
—Shayne Wells, KARE 11 News, 3/21/12
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