Low Income Housing Authority
Your Guide To Finding Low Income Housing, Apartments, Section 8 and More

Low Income Housing In Minneapolis, Minnesota

Minneapolis Low Income HousingThe city of Minneapolis has actually adopted an Affordable Housing Resolution to increase affordable and low income housing for needy residents of Minneapolis.  In general, the city's plan creates a mix of rental and homeownership properties for those whose income is 30-50% of the Minneapolis median income (MMI).  The Resolution also calls for providing affordable senior housing and housing for the homeless. 

A resource guide is available on the City website that outlines housing development, rehabilitation and ownership programs for Minneapolis residents at www.minneapolismn.gov.  The city's Unified Housing Policy defines “affordable” as housing costs equal to 30% of gross monthly income for residents whose household income does not exceed 50% of MMI. 

The CityLiving Home Program gives residents financial assistance in purchasing a home of their own.  The City sells tax-exempt mortgage revenue bonds which results in private lenders being able to offer low-interest loans to low-income families who are first-time buyers and meet the income guidelines.  The current rate is 3.99% plus downpayment assistance of 2.5% of the loan amount.  Even moderate-income first-time homebuyers can qualify for a 20% federal income tax credit  called the First Time Home Buyer Mortgage Credit Certificate.  To learn how you can qualify for these benefits, go to www.citiliving.org

Family Housing Fund (FHF) is a non-profit organization in the Minneapolis-St. Paul that provides another way for low- and moderate-income residents to find affordable housing.  A combination of grants and loans enables this program to subsidize the cost of building new homes and rehabilitating vacant homes and sell them to qualifying families at an affordable price.  FHF also makes rental properties available by giving grants and low-interest deferred loans to developers interested in building or renovating apartments and townhomes for low- and moderate-income families.  Another service provided by this organization is rent subsidies, as well as employment services and chemical dependency counseling, for those who are at risk of being homeless.  For more information on Family Housing Fund housing opportunities, go to www.fhfund.org.

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