Over the past few years, stakeholders in the Twin Cities have emphasized the importance of increasing social and racial equity in the region. In Minneapolis, St. Paul, and their suburbs, Black families have lower incomes, less access to wealth-building opportunities, and poorer-quality public services in their neighborhoods. To explore these issues, the Urban Institute partnered with the Alliance, the Family Housing Fund, and the Center for Economic Inclusion to study the region’s property ownership patterns over the past two decades.
Our research shows the Black-white homeownership gap is growing in the Twin Cities, and white families are now more than three times as likely to own their homes as Black families. We find that both renters and owners of color are particularly likely to be displaced from neighborhoods surrounding downtown Minneapolis that have been experiencing gentrification. We also demonstrate that out-of-state investors have capitalized on foreclosures to purchase an increasing share of single-family homes and convert them to rentals, especially in neighborhoods like North Minneapolis and Como. These trends can inform policymakers, thought leaders, and changemakers working to create a more equitable and sustainable housing landscape.
Join us for a summary of our findings and recommendations and a panel discussion of their implications for housing, homeownership, and helping vulnerable residents of the Twin Cities remain in their homes.