Renters have very little control over their housing costs, leaving them at the mercy of the market. Currently, landlords may raise rental prices with no limitations and without providing justification.
Rents in many parts of our city have increased faster than renters’ incomes, especially for renters of color and renters with the lowest incomes. Prior to the COVID Pandemic, Minneapolis rents were increasing at record levels. Over half of Minneapolis households rent their homes. And over half of renters earn less than 60% of the area median income. Of those families, more than three-quarters paid more than 30% of their income on housing and nearly half paid more than half of their income on housing.  Families spending so much of their income on housing are less able to cover their basic needs, and are at higher risk of homelessness.
These cost-burdened households are disproportionately likely to be members of Black, Indigenous and People of Color (BIPOC) and immigrant communities. In 2016, there was not a single neighborhood in the city of Minneapolis where a Black household with the median income for Black renters could afford the median-priced rental unit.