Twin Cities homes have become steadily less affordable since the 1990s. Recently, however, something has started to shift.
Via the Star Tribune’s Editorial page, here’s a chart from the Met Council’s latest report on housing trends. It shows the average rents charted against the ever-tightening rental vacancy rate: Here are the key points from the report about this chart: The region’s rental vacancy rate has been under 5% since the fourth quarter of […]
Here’s a info-packed chart from Saint Paul’s latest Marketwatch report — this one subtitled “Trends in the unsubsidized multifamily rental market” — showing average rents for different apartments of different sizes, along with the 60% AMI level for the city. Voila: The full document, available here, has a lot more charts about the state of […]
MPR News published an excellent article yesterday about the lack of housing for people with Section 8 vouchers. It contained this eye opening chart about the state of the rental market in the Twin Cities these days. Here’s a quote from the piece: Voucher holders usually have just a few months to find an apartment […]
There’s a wonderful new draft of a document called the “Housing Conditions and Trends Inventor, Needs Assessment, and Implementation Strategy” from the Saint Paul Planning and Economic Department that was released last week in conjunction with the draft Comprehensive Plan. It is chock full of housing data, including lots of information about the current state […]
Via Scott Shaffer on Twitter, here’s a chart for you. It shows the Twin Cities leading the country in rental market tightness, and comes from something called the RealPage and Axiometrics report on Business Wire, a BerkshireHathaway Company. Here you go! And one more for good measure. The report explains itself thusly: Among the country’s […]
A handy, trustworthy tenant who paid his rent on time — nope, wasn’t enough for a suburban landlord who wanted to cash in.
Seven years ago, I moved to the Twin Cities to start graduate school. The offer I received from the department was straightforward: Work with some great minds, with a full tuition benefit, and live on a fixed income for at least nine months out of the year. The income was set to about 150% of […]
Citylab published an intriguing story yesterday full of some comparative charts of the renter rates from metro areas around the country. For example, here’s a list of the top and bottom cities for rental vs. home ownership: Here’s another list showing the percentage of income spent on rent. The Twin Cities is very close […]
Via Barry Ritholz’ blog, here’s a wonky economic chart from a recent Federal Reserve Bank of San Francisco report, about the difference between this housing market and the housing bubble of the early 2000s. This chart shows both the mortgage debt-to-income ratio (which is still declining from the peak) and the house price-to-rent ratio (which […]