Signs of 'financial stress' emerge in survey of Twin Cities rent payers

MINNEAPOLIS — September was a more difficult month for working-class and low-income renters in the Twin Cities.With federal assistance in limbo, 85% of people who lived in the oldest, most affordable market-rate rentals (Class C buildings) were able to pay their rent by Oct. 6 when the grace period for late rents typically ends, according to the Minnesota Multi Housing Association’s monthly survey of more than 35,000 market-rate units, most of them in the metro. That’s down from 88% last month and 94% last year, and doesn’t include heavily subsidized and Section 8 rentals.Cecil Smith, presiden...


Read More