Rising market-rate rent. Across the United States, rents have grown rapidly for all income groups, but the lowest incomes have been hit the hardest.
Wages aren’t keeping up. The average annual income of a CommonBond household is $22,000. That means less than $2,000 each month to make ends meet.
Lack of affordable options. There are fewer than 4 affordable rental homes for every 10 extremely low-income renter households in the state of Minnesota.
The needs of our communities are growing. CommonBond must have the capacity to respond.