Jul 17, 2012 at 8:30 am
ST. PAUL, MN (KNSI) - The rising cost of rent and low vacancy rates are putting the squeeze on Minnesotans who are already struggling to make ends meet.
According to the Minnesota Housing Partnership, in order to afford a modest two-bedroom apartment in the state, someone working minimum wage would need to work 86 hours a week.
"We found that Minnesota actually had the worst affordability of any state in the Midwest," spokeswoman Leigh Rosenberg said. "That is due to a combination of high housing costs as well as a minimum wage that is the federal minimum; some states have a higher minimum wage."
High rents and expensive accommodations are not only limited to the metro Twin Cities area as people may think. The four counties with the highest percentage of people unable to afford a basic apartment are out and about in greater Minnesota.
"Because what we're finding in many, many rural areas in Minnesota is that the supply of rental housing is simply inadequate," Rosenberg said. "Rent becomes very high in comparison to what people earn."
The partnership said 54 percent of renters in Minnesota currently do not earn enough to afford a two-bedroom unit at the "fair market rent" where they live.
Temp: 29°F (-2°C)
Wind: 9 N