Between 1980 and 2000, the housing stock in Central shrank. The housing vacancy rate peaked in 1990 at 15 percent and then declined to 7.5 percent in 2000.
Central tends to have a higher proportion of renter-occupied units, but home ownership is on the rise. From 1980 to 2000, owner-occupied units rose from 38 percent of the total housing stock to 44 percent.
Central's vacancy rates followed citywide trends, but they were higher than Minneapolis' rates between 1980 and 2000. The city and the neighborhood both had their highest percentages of vacancies in 1990, when the rental vacancy rate in the neighborhood reached almost 13 percent of the total of rental housing units.
Central's median house values followed city trends between 1980 and 2000, but the neighborhood's values were lower than Minneapolis'. In 2000, the median value in the neighborhood was $13,600 lower than its own 1980 figure and more than $33,000 lower than the city's 2000 value.
Central's median housing cost as a percentage of median household income was higher than Minneapolis' in 1980 and 1990, but with a rising neighborhood median income, this percentage fell slightly below the Minneapolis level in 2000.
Central's median gross rent followed citywide trends but was higher than Minneapolis rent between 1980 and 2000. In 2000, median rent in the neighborhood was $41 higher than citywide.
Median gross rent as a percentage of median household income was higher in Central than Minneapolis between 1980 and 2000. In 2000, the median gross rent cost 23 percent of median household income, compared to 18 percent citywide.
Last updated Sep 27, 2011