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Governor’s Task Force on Affordable Housing January 12, 2018

Governor’s Task Force on Affordable Housing January 12, 2018. Po. Population Change, 2010-2015. 2010-2015 Majority of the growth (88%) occurred in 7-county metro MN grew by 179,000 Hennepin and Ramsey added 98,000 jointly. Source: MN State Demographic Center Projections.

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Governor’s Task Force on Affordable Housing January 12, 2018

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  1. Governor’s Task Force on Affordable HousingJanuary 12, 2018 Susan Brower, Minnesota State Demographer mn.gov/demography

  2. Po Population Change, 2010-2015 2010-2015 Majority of the growth (88%) occurred in 7-county metro • MN grew by 179,000 • Hennepin and Ramsey added 98,000 jointly

  3. Source: MN State Demographic Center Projections

  4. Yes, Millenials have been slower to buy homes Source: Tabulated by Minnesota State Demographic Center from Census Bureau data

  5. Steady march toward homeownership in the 20s and 30s Source: U.S. Census Bureau, 2016 American Community Survey

  6. Large share of younger and older adults with low incomes (<199% Federal Poverty Threshold)

  7. Takeaways Population momentum and international migration = strong growth outlook for the Twin Cities in the years ahead Uncertainties as Boomers “age” out of larger, family homes and Millennials seek to establish new ones Youngest adult generation is slowly moving toward homeownership; large generation; will be an increasingly diverse group (preferences for homeownership and economic resources will not be a given)

  8. Website: mn.gov/demography susanbrower@state.mn.us Twitter: @MN_StateData

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