About
Across Minnesota, affordable rental housing is in distress. In recent years, costs to provide housing have increased enormously. Nonprofit housing providers are experiencing financial and operational challenges that threaten the stability of renters and viability of properties.
Today’s Challenge
The issues impacting the affordable housing industry are complex and rooted in longstanding affordable housing finance practices. In recent years, these longstanding issues have been exacerbated by external conditions related to public safety, escalating insurance costs, and pandemic-related increases in rent arrears. If these organizations are not stabilized, we will lose critical affordable housing units – which means families with low incomes could lose their homes.
Housing providers across the state are experiencing distress, no matter where they’re located or how many properties they own. This is not just an organizational issue. It’s a system issue that requires a coordinated response and systemic solutions.
The Path Forward
The Minnesota Housing Stability Coalition came together in 2023 to address the significant threats to the stability of low-income residents and the affordable housing system. More than 70 people from 35 nonprofit housing organizations and philanthropies statewide have engaged in the Coalition to support the tens of thousands of Minnesota residents who depend on affordable rental housing. Together, we are charting a path forward to stabilize residents and the field of affordable housing.
The Minnesota Housing Stability Coalition is pursuing a host of different strategies to address the evolving emergency, ranging from legislative action to improvements to the coordinated entry system and administrative underwriting policies for projects seeking public funding.
By advancing a multitude of strategies at once, we will strengthen the affordable housing ecosystem and help to ensure the long-term stability of renters who depend on these homes.