In August 2014, Alliance increased its rents 2%. The board considered this decision in the context of the rental market, property cash flow and our tenantsʼ ability to pay. We donʼt take these decisions lightly. A $10 increase per month is a big challenge to someone living on a disability pension or someone whose low wage and fluctuating hours keep the monthly budget tight. A recent study by the National Low Income Housing Coalition analyzed how many hours a minimum wage worker had to work in order to afford an average cost 2 bedroom apartment. In MN, it was 91 hours per week. Alliance rents rooms with shared bath and kitchen facilities, studios and 1-3 bedroom apartments. A minimum wage worker would have to work 42 hours in a month to afford a room and 117 hours in a month to afford a 3 bedroom unit – well below the averages.
