By WCCO-TV Staff

MINNEAPOLIS (WCCO) — St. Paul residents voted Tuesday to pass a rent control policy that will be one of the most stringent in the nation.

The initiative, which has 53% approval with all precincts reporting, caps annual rent increases in the city at 3%, with only certain exceptions for property tax increases and major improvements.

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Advocates say the policy will protect low-income renters from unfair profiteering, specifically for renters of color. Opponents, however, said that rent control will hurt housing development in the city, leading to only higher prices for renters.

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Prior to election day, Mayor Melvin Carter said he would vote in support of the measure. The mayor is projected to win re-election, as he amassed more than 60% of first-round votes Tuesday night.

For a look at the results of other top Twin Cities races, click here.

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