Twin Cities rents skyrocket

11:51 AM, Nov 4, 2013   |    comments
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ST. PAUL, Minn. - Lower-income renters say they are struggling with rapidly increasing rents in the Twin Cities area.

Dena Felper tells the St. Paul Pioneer Press her rent is expected to increase by 23 percent by March to $750 per month. She says she'll have to take another job - her third - to pay for the increase.

The Minnesota Housing Partnership says Twin Cities residents are seeing some of the biggest rent increases in 12 years and the average rent in the area is nearing $1,000 per month.

Minnesota Housing Partnership Director Chip Halbach says about half of all Minnesota renters pay more than 30 percent of their income in rent.

The partnership says the foreclosure crisis created a flood of new renters, allowing landlords to be pickier and raise rents.

(Copyright 2013 by The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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