The Brief
- The Twin Cities missed annual goals for new housing, affordable units and Black homeownership, according to a Minneapolis Fed report.
- About 12,000 new homes were built each year, falling short of the 18,000 target.
- Black homeownership rates dropped, and experts say high costs and interest rates are major challenges.
(FOX 9) – A new report from the Minneapolis Fed shows the Twin Cities came up short on all three of its annual housing goals, raising concerns about the region’s progress in building homes and closing the homeownership gap.
Twin Cities struggles to meet housing construction targets
What we know:
The goal was to build at least 18,000 new housing units each year across the seven-county Twin Cities area.
In both 2024 and 2025, only about 12,000 units were built each year, which is about two-thirds of the target.…