A new program called Bring It Home Rental Assistance was recently approved by Minnesota Housing, putting forward an additional $123 million in rental assistance, according to a recent press release.
Created as a part of the additional housing funding appropriated in 2023, the rental assistance is set to go to 50 local, regional and tribal administrators in the form of two-year grants, the release said.
Ongoing funding for the program will come from state funding and some of the new sales tax instituted in the Twin Cities metro. Grant recipients include housing authorities, tribal entities and nonprofits. The press release also notes that Bring It Home will be offered to renters who “pay a little above the average rent in their area” which will help renters in tight rental markets.
“Bring It Home is one of the 2023 Legislature’s landmark investments in affordable housing,” said Housing Commissioner Jennifer Ho. “This rental assistance will help thousands of Minnesotans afford their rent as costs continue to rise.”
