Minneapolis is giving people $500 a month and recipients say the no-strings-attached cash is helping them fight soaring housing costs

Business Insider

Low-income households in Minneapolis who’ve received $500 a month as part of a pilot guaranteed basic income program say the no-strings-attached cash is most useful for housing costs, according to a recent report from the Federal Reserve Bank of Minneapolis.

Thirty-five percent of the 200 households participating in the two-year program said “the most important use of the extra money” was rent or mortgage payments, while another 17% said utilities, including gas, electric, water, and internet, topped their priority list, according to a survey conducted at the program’s 12-month mark. A survey of the recipients conducted six months into the pilot found similar results, though more — 21% — said utilities were the most important use of the money.

A large majority of recipients — 59% — said housing was among their top three most important spending categories, while 54% said the same of utilities, according to the 12-month survey.

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