THE WEEK IN HOUSING
RECENT NEWS & UPDATES FROM MINNESOTA NAHRO
So much is happening in the affordable housing industry and Minnesota NAHRO is there providing timely information and trainings for our members. This member update highlights our upcoming events to help you keep track of it all. Be sure to mark your calendars for the return of our first in person event – the Leadership Retreat on July 27 & 28 (corrected dates). Plus check out two new reports on the status of housing in Minnesota.
COVID at the Capitol – Updates from WDC & St Paul
Friday, March 26th at 10am
Our timely COVID session will provide an overview of the latest state and federal relief packages to help you keep track of all the programs and resources that will be available in the coming months. Our featured speaker is Georgi Banna of NAHRO who will discuss the housing components of the American Rescue Plan (ARP) including:
- how housing authorities can plan for the new emergency vouchers
- how $100M in rental assistance for rural housing will impact RD units in Minnesota and
- how these federal housing resources in the ARP will help housing authorities at the local level
Click here for more details and to register.
*This event is free for Minnesota NAHRO All Access Pass holders.
GMHF February Rent Survey Shows More Households at Risk due to Unpaid Rent
The Greater Minnesota Housing Fund (GMHF) released February data in the on-going impact of COVID-19 on Minnesota households. The survey of owners and managers of approximately 30,000 rental housing units in rural and urban parts of the state provides a snapshot of tenant inability pay rent due to the Covid-19 pandemic. One year into the pandemic, the key findings of the data show:
- The percentage of rent paid in January 2021 as of month-end was 91.9% — significantly lower than March 2020.
- The decline in rent paid percentages translates to a more alarming number in terms of households at risk. As of January 2021 month-end, an estimated 39,832 households were unable to pay their rent with an increasing number of households (over 80,000) delaying payment of rent until after mid-month.
- A majority of portfolios (95%) reported a decline in net income for January due to significant drops in rent paid combined with an increase in operating expenses.
- The cumulative increase in unpaid rent due to the pandemic statewide is estimated at over $180 million through the end of January 2021.
- The sample of 31,561 units represents roughly 5% of the total market of 627,000 units, of which 244,530 (39%) are affordable units. The types of units for which data were collected were split between rent assisted and non-assisted units.
MHP State of the State’s Housing 2021 Report
MHP’s State of the State’s Housing shows that more than a quarter of Minnesota families pay more than they can afford for housing — and that number is growing. In a year which has been extremely challenging for low income households, this report highlights key trends, like the gap between the costs of housing and the salaries of in-demand jobs. The report also ranks counties on benchmarks like renter cost burden and showcases issues like aging housing stock with dynamic maps.
Save The Dates
2021 Virtual Spring Conference – May 19-20
2021 Leadership Retreat – July 27-28 at Madden’s in Brainerd, MN