Fri Sep 20 11:08:07 UTC 2024: ## Minneapolis Housing Program Shows Promise Amid National Housing Crisis
**Minneapolis, MN** – A program in Minneapolis aimed at tackling the housing shortage is showing positive results, with a significant increase in housing stock and a decrease in rents compared to national trends. The “Minneapolis 2040” program, implemented in 2019, made the city the first major U.S. city to end single-family exclusive zoning, allowing developers to build multifamily housing on previously restricted lots.
Since then, Minneapolis saw a 12% increase in housing stock between 2017 and 2022, compared to a 4% statewide increase, according to Pew Research. Hennepin County, where Minneapolis is located, is also the second-easiest county to buy a home in, compared to seven adjacent counties, according to an NBC News measure. Furthermore, rents in Minneapolis fell by 4%, while rents across the country surged by 22% in the same period.
The program, while lauded for its success, faced controversy from residents who feared increased traffic and density in their neighborhoods. Despite these concerns, Mayor Jacob Frey touted the plan as a way to create “a greater diversity of housing options” and address affordability issues.
The program offers a potential solution to the national housing crisis, a key issue in the upcoming presidential election. Both Vice President Kamala Harris and former President Donald Trump have made housing affordability a central part of their campaign promises, with Harris pledging to subsidize first-time homebuyers and Trump promising to reverse the “SALT cap” on federal deductions.
The success of the Minneapolis 2040 program highlights the potential of zoning reform as a tool to address housing shortages and affordability concerns, a crucial issue for both voters and policymakers alike.
First Piper 