Affordable Housing Scarce in Metro

The Twin Cities Metropolitan Council has approved a regional housing policy plan - the first such plan to be adopted in 30 years.  

Among the priorities outlined in the plan are commitments to expand housing options for people in all life stages and of all economic means.  Increasing the amount of affordable housing is one of the plan’s clearly stated goals, and written into the language of the plan is a promise to “convene regional discussions to address housing issues” in the next year.    

 

But how do you measure the affordability of housing?  

If you spend thirty percent of your income on housing, you are said to be housing cost burdened--that is, a considerable amount of your financial resources go towards rent, mortgage payments, and utilities.  And about one quarter of Twin Cities households are “severely” housing cost burdened, meaning they pay fifty percent of their income on housing.  

KFAI’s Julie Censullo talked with the Council’s Manager of Regional Policy and Research,  Libby Starling,  about a recent study of affordability that informs this new regional housing plan.  .

 

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