Group: Rising Des Moines rents outpacing low-income wages - KTTC Rochester, Austin, Mason City News, Weather and Sports

Group: Rising Des Moines rents outpacing low-income wages

Posted: Updated:

DES MOINES, Iowa (AP) - A housing shortage for low-income workers in Des Moines is being exacerbated by soaring rent costs, a local organization has found.

The Des Moines Register reports that rents in the city have increased by more than 15 percent in past five years.

The Polk County Housing Trust Fund also says that Polk and eastern Dallas counties are almost 8,000 units shy of meeting demand for single people making less than $15,000 annually.

Only one low-income housing, tax-credit development project was approved this year in Polk County by the Iowa Finance Authority. The Libertad will provide 40 units for families and individuals who have struggled to find permanent housing.

Hubbell Realty Co. says all 1,966 new rental units built last year in Des Moines were market rate.

Information from: The Des Moines Register, http://www.desmoinesregister.com

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly