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Hennepin County approves record $17.1M for affordable housing projects


Hennepin County approves record $17.1M for affordable housing projects
Published 
(FOX 9) - Hennepin County approved $17.1 million to support 27 affordable housing and development projects, the Board of Commissioners announced Wednesday.
According to a release, the board, acting as the Housing and Redevelopment Authority, approved the funding Tuesday. The awards represent more than double the amount of county funding available for affordable housing as recently as 2018.
Officials say the 27 projects are expected to help create or maintain 2,270 units of housing, including 1,550 affordable units, of which 360 will be affordable to households with the lowest incomes earning less than 30% of the Area Median Income, or about $31,450 for a four-person household. ....

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Housing study shows North Dakota has a problem with affordability


It s a great time to buy, he said.
According to Flohr, interest rates through a program offered through his agency are at 2.6% is a far cry from the rate of 13% when the agency was started in 1982, and better than the 7% rate a decade ago.
It means better buying power, Flohr said.
He said he would be surprised if rates go up in the next couple of years. Adding to the housing outlook, Flohr said, is a good homebuilding community in Fargo and the state, and he hopes they can step up and help figure out more affordable home options.
His agency also offers attractive programs for first-time homebuyers. Operating through private lenders, the program can assist with down payments and closing costs, too. ....

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