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Read the article here at minneapolisfed.org
Excerpt
“As cities across the country contemplate similar zoning and policy changes to address their own affordable housing challenges, they will look to the experiences of Minneapolis. The Minneapolis Fed, in partnership with the City, has therefore developed a dashboard of indicators to measure the housing impacts of the Minneapolis 2040 plan. To address the plan’s many moving parts, the Minneapolis Fed’s dashboard presents ten indicators grouped into three broad outcomes: more housing, more affordable housing, and more equitable housing. These indicators include counts of new units in multifamily structures, housing cost burden, and typical monthly rent; and indices of income segregation and racial isolation. Contextual figures accompany each indicator to provide information about how Minneapolis neighborhoods vary or how Minneapolis fits into the national context.
The Bank’s indicators, which will be updated through 2030, will evaluate the long-term effectiveness of the housing policy and programmatic changes resulting from the plan, including the elimination of single-family zoning and an inclusionary zoning ordinance.
While these indicators will not measure the effects of individual policies or programs, they will collectively answer the question, “How has the 2040 plan met its housing-related objectives, compared to expected outcomes absent Minneapolis 2040?” The goal is to prepare city leaders for questions that will emerge about the impacts of the plan.”
