Who We Serve
Aeon currently serves more than 4,500 adults and children and offers 2,700 affordable apartments and townhomes in secure, safe environments. In 2014, approximately:
- 88 percent of households served by Aeon earned very low or extremely low incomes at an average of $15,849.
- 22 percent of homes served formerly homeless individuals.
- 1,100 residents used Aeon’s Resident Connections to work toward greater stability in their lives and to help create home.
View our 2014 annual report website for more highlights.
Providing affordable apartment homes for individuals and families
Aeon’s affordable homes serve people earning low or extremely low incomes. Many of these individuals earn minimum wage and would need to spend nearly their entire month’s salary to pay the average Minneapolis rent of $927 per month.
In order to afford a two-bedroom apartment at market rate, the average Aeon resident would need to work more than 100 hours a week. Even someone earning $10 per hour working 40 hours a week would spend more than half of their gross income on housing costs – leaving little to cover food, health care, transportation, day care, insurance and emergency expenses.
By helping meet this critical community need, our mission to provide affordable rents strengthens the lives of residents and the greater community.
Creating stability for adults and youth who have experienced homelessness
Aeon provides homes for individuals who have experienced homelessness in several of its properties, including 70 apartment homes for formerly homeless youth. At these properties, Aeon provides Resident Connections services or partners with a social services provider to help residents increase stability and self-sufficiency. At all of our properties, we create a respectful, caring culture with responsive property management.
Offering market rate rentals
Aeon provides a wide range of affordability to serve the community’s affordable housing needs. Several Aeon properties are mixed-income developments, offering rents that range from low to market rate.