What HUD offices serve Minneapolis, Minnesota?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Minneapolis.
How many renters live in Minneapolis, Minnesota?
The City of Minneapolis has 425,104 people living in 193,694 households.
There are 192,731 renters living in 101,502 renter households in this City. Renters make up 45.34 percent of the population living in Minneapolis.
What is the rental market like in Minneapolis, Minnesota?
There are an estimated 210,510 housing units in the Minneapolis area. Of these, 110,735 units are rental homes, making up 53 percent of the housing market. For every renter household in Minneapolis, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Minneapolis?
The rental vacancy rate in Minneapolis is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Minneapolis for each bedroom size?
Occupied Rental Units by Size in Minneapolis
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 14,253 | 41,146 | 29,500 | 11,725 | 3,164 |
Occupied Rental Units by Size in Minneapolis
A large number of apartments in Minneapolis have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Minneapolis are overburdened by housing costs?
Among renter households in this market, 49 percent have housing cost burden. Further, 25 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Minneapolis
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,174 to $2,478. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,174 |
| One BR | $1,327 |
| Two BR | $1,622 |
| Three BR | $2,188 |
| Four BR | $2,478 |
2024 Fair Market Rents in Minneapolis, Minnesota
How many units are rented at Fair Market Rent (FMR) in Minneapolis?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 9,736 | 68 percent |
| One BR | 25,041 | 61 percent |
| Two BR | 15,079 | 51 percent |
Rental Units Below FMR in Minneapolis, Minnesota
How many affordable rental units are in Minneapolis?
There are a variety of federal affordable housing programs serving households in Minneapolis, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 11,664 |
| Public Housing | 5,253 |
| Section 8 Project-Based Rental Assistance | 4,997 |
| Mod Rehab Project-Based Rental Assistance | 105 |
| Section 202 Supportive Housing for the Elderly | 234 |
| Section 811 Supportive Housing for Persons with Disabilities | 37 |
Tracked Units by Federal Program in Minneapolis, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Minneapolis, Minnesota
Minneapolis features 10,853 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Minneapolis, Minnesota
There are 10,096 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Minneapolis.
Housing Choice Vouchers in Minneapolis, Minnesota
On average, Section 8 Housing Choice vouchers pay Minneapolis landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Minneapolis.
The maximum amount a voucher would pay on behalf of a low-income tenant in Minneapolis, Minnesota for a two-bedroom apartment is between $1,460 and $1,784.
Sourced from federal housing data and AffordableHousingOnline.com research.
