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The Minneapolis Fed is developing indicators for the city of Minneapolis to measure the impact of housing policy and programmatic changes resulting from the Minneapolis 2040 plan.
The Minneapolis 2040 plan, adopted in 2019, included this housing goal: “In 2040, all Minneapolis residents will be able to afford and access quality housing throughout the city.”
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.
This collaboration, which was approved by the Minneapolis City Council on Friday, May 1, builds off the existing relationship between the Fed and the city on the Minimum Wage Study. Similar to that project, the Minneapolis Fed will provide the city additional analytical capacity beyond what city staff alone can do. The Bank also provides objective analysis and independent perspective.
The Minneapolis Fed expects that the results will inform policymakers in other cities and regions across the Ninth District and nation. This effort further advances the Bank’s ongoing mission to serve the public through data-driven contributions to public policy.
