Since 2018, Minnesota Housing has funded over 1,300 rental and owner-occupied homes in Greater Minnesota communities with substantial job growth. In 2024, Minnesota Housing funded 298 homes in these communities.

In 2023, the state legislature appropriated a large investment in affordable housing. The timing between legislative appropriation, funding selection and project completion can span several years. We expect an increase in these homes over the next several years because of the 2023 legislative appropriation. 

Minnesota needs 260,000 new housing units from 2025 through 2035 across all types and price points to create and sustain a healthy housing market. This includes 195,000 units to accommodate household growth during that time and an additional 65,000 units to account for the underproduction of housing between 2006 and 2024. Communities experiencing substantial job growth require additional housing stock to meet the needs of its growing workforce. 

This metric captures the number of newly constructed owner-occupied homes with closed loans funded through Minnesota Housings Impact Fund and rental units funded through the Agency’s Multifamily Consolidated Request for Proposal process in workforce housing communities. Workforce Housing communities are defined through Minnesota Housing’s Qualified Allocation Plan and are defined as those that are regional job centers, have experienced job growth over a five-year period or have a significant portion of the workforce that travels 30+ miles into that community for work.