A Study of Affordable Housing in the City of Bloomington, Minnesota
The Twin Cities metropolitan area needs more housing, specifically affordable housing. Over the last decade, the seven-county metro needed over 44,000 affordable homes and apartments, but only a third of them were built.
Bloomington is the fourth-largest city in Minnesota by population. The challenge of affordable housing is multifaceted, and metrics used to determine affordability distort the magnitude of the problem. Across our state and our country, we face a housing crisis. Many renters struggle to find housing affordability and potential homeowners can’t purchase their first home. This creates cost-burdened renters and prevents communities of color from building wealth through homeownership.
With an annual budget of $193 million, serving a population of 90,974 with 38,709 households, Bloomington’s continued forward-thinking approach uniquely positions the City to meet the diverse housing needs of all of its residents at every income level.