The Loss of NOAH: Research from Minnesota Housing

In the Twin Cities area, roughly 1,300 affordable rental units are annually losing their affordability after a property sale. Statewide, about 2,000 affordable rental units are annually lost.

In recent years, the loss of Naturally Occurring Affordable Housing (NOAH) has been getting much attention.

NOAH rental units are affordable without government assistance or subsidies and are typically older properties that lack amenities. In some cases, these properties are losing their affordability after being sold and rehabilitated/improved. The purpose of this analysis is to estimate the size of the loss and understand the types of properties losing their affordability and the communities losing units.

Key Findings

  • In the Twin Cities metro area, roughly 1,300 affordable rental units are annually losing their affordability after a property sale. Statewide, approximately 2,000 affordable rental units are annually lost.
     In the Twin Cities metro area, suburban communities are losing larger properties, while Minneapolis and St. Paul are losing smaller properties. While suburban communities account for 60% of the lost properties, they account for 90% of the lost units in the Twin Cities metro area.
  • Class C properties account for most of the lost properties (76%); however, Class B properties are typically larger, accounting for 24% of the lost properties and 44% of the lost units.
  • Two bedroom units are more likely to lose their affordability than studio units.
  • NOAH units in higher rent communities are more likely to lose their affordability.

Download the full report at Minnesota Housing. Scroll down for “Loss of Naturally Occurring Affordable Housing (NOAH).”

Download NOAH Brochure

For more background about the NOAH Impact Fund, please download the NOAH Impact Fund Brochure (PDF).

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About the NOAH Impact Fund

The NOAH Impact Fund is a subsidiary of the Greater Minnesota Housing Fund. This program was established to enable the preservation of existing affordable housing for Minnesotans.

Learn More

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Greater Minnesota Housing Fund

AERIS Rating 2+FHLB Des MoinesGMHF is AERIS rated and a member of The Federal Home Loan Bank of Des Moines.

 

Staff Contacts

John Errigo
Acting NOAH Impact Fund Manager
jerrigo@gmhf.com
651.350-7224

Warren W. Hanson
President & CEO, GMHF, MEF & NOAH
whanson@gmhf.com
651.350-7220

General Contact Info

NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650-West
Saint Paul, MN 55101