Register for "The Future of Rural Rental Housing: USDA Sect 515 Research & Remedies," an event hosted by the Minnesota Housing Partnership.
Join us on May 3, at 9 am, for an overview of the recent report The USDA Section 515 Program and The Challenge of Preserving Affordable Housing in Greater Minnesota and conversation about what the future holds for rental housing throughout Greater Minnesota.
Over the next years, rural areas of Minnesota and across the nation will lose thousands of affordable rural rental homes, as federally subsidized loans for those properties are paid off and requirements to keep rents low thus end. As well, renters will lose eligibility for USDA's rental assistance.
In 2020 there were nearly 50,000 subsidized housing units in Minnesota outside of the Twin Cities metropolitan area, with Section 515 housing units accounting for almost 19% of that figure. In 48 of 80 MN Counties, Section 515 accounts for more than 20% of all subsidized housing.
If this situation is not addressed, some of the most vulnerable low-income households in rural areas of the Midwest may experience increased rent and, potentially, displacement.
In this zoom event we will review the impact of rural rental Section 515 homes in Minnesota and share recommendations for state and federal policy makers. This new report is a collaboration between the Center for Urban and Regional Affairs, MHP, and the Housing Justice Center.
