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Twin Cities Metro
<br />11, ririig & Assls�ta�ince, 11POlicy Media
<br />Pul'.)lIlcafions Reports & Research Housing Trends Twin Cifies Metro
<br />Housing Affordability Trends
<br />�by Region
<br />• Duluth
<br />• Rochester
<br />• Twin Cities Metro
<br />• St. Cloud
<br />Reports, & Research
<br />• Facts& Stats
<br />• M Reports
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<br />• Research (Links
<br />Trends in Ih ousing, jlobs, and more over
<br />the long-term, based on research, by MHP
<br />and other Minnesota non-profits.
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<br />Twin Cities Metro
<br />Attachment I
<br />104 1�1
<br />Twin Cities, area res,iidents face high housing costs,, both for owners, and renters, compared to incomes. The
<br />problem has worsened in recent years. By 2009, over 14% of all area households, or one iin seven, paid more
<br />than half of their income for housing. At this level of housing cost burden, famiiliies, often must make difficult
<br />choices between paying for hous,iing and other necessities, such as transportation, food, and prescriptiioin
<br />medicines.
<br />40,00,01
<br />Number of Households Paying at Least Half of
<br />InCro�Mie for Housing, Twin Cities Metro
<br />21,0015 2006 2007 2,008 2OD9
<br />Sourcc— Am�--ricanCominui,oilofy5u,r�,ey, I-year esfrh-y�fes,
<br />Reniers
<br />m Own e,rs
<br />2005 2006 20,07 2005 2009
<br />Sourc,--- Arr),eh'Can Co,rrmun)"fySurvey, 1-year esfii,mafes
<br />About 93,000 owner households and 83,000 renter households, now pay more than half of their iincome for
<br />housing in the Metro area. 16% more owners, and 10% more renters, experiienced this level of housing cost
<br />burden in 2009 compared to 2005, though the increase since 2000 has been even more dramatic. The burden
<br />falls especially heaviily on lower-income area res,iidents. About two-thirds of households earning less, than
<br />$50,000 per year pay more than they can comfortably afford for housiing, according to HUD guiideliines,,
<br />compared to about 1 iin 6 households, with iincomes , above $50,000.
<br />http. / /www. mhp online. org/pub lications/rep orts- and-res earch/housing-trends/8 5 -twin- citie... 09/14/2011
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