Affordable Housing Report by Minnesota Congressional District

UNDATED (WJON News) -- The Minnesota Housing Partnership is out with a new report looking at housing affordability in each of the state's eight congressional districts.

Deputy executive director Elizabeth Glidden says the 1st, 5th, and 7th districts:

"Those are the three districts where we are seeing the largest gap between what people earn and what they actually can afford."

She says the 2nd District is the lone bright spot for rental housing:

"Where we were able to see that a typical renter was affording the rent by a pretty significant amount."

District 3 in the west metro has the highest median rent and home value, plus the highest renter and homeowner income.

In the Sixth Congressional District, the report says there are just over 272,000 total households.

81 percent are owner households with a median home value of $365,500 and a median owner income of just over $116,000 a year.

19 percent are renter households with a median rent of $1,200 a month and a median renter income of $52,500 a year.

The salary needed to afford a median-priced home in the Sixth District is nearly $110,000. The salary needed to afford the median rent is just over $49,000.

In the district, the Asian homeownership rate is 89 percent, the white homeownership rate at 82 percent, Hispanic is 76 percent, and the black homeownership rate at 51 percent.

The Minnesota Housing Partnership says Minnesota's housing shortage has grown over the past decade, with a shortfall of nearly 100,000 homes.

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Rising homeowners insurance costs are climbing, driven by increased weather risks and rebuilding expenses. The insurance premiums in Minnesota are the 12th highest in the nation, with sharp increases in recent years. Home insurance costs have gone up 15 percent just since 2023.