The Corcoran neighborhood comprised a total of 1,593 housing units in 2000 – 69 fewer than it did 20 years earlier. In 1980, 3 percent of the total housing units were vacant. In 1990 the percentage of vacant units doubled, then dropped back to 3 percent in 2000.
In 1980 and 1990, 55 percent of the housing units in Corcoran were owner-occupied. In 2000, 60 percent were. The number of rental units decreased by 77 units from 1990 to 2000.
In 2000, only 0.3 percent of all owner-occupied homes were vacant in the Corcoran neighborhood, with just three homes up for sale. There was a 14-percent decrease in the homeowner vacancy rate from 1990 to 2000 that followed a slight increase in the previous decade. Overall, the homeowner vacancy rate in Corcoran was lower than that of Minneapolis. The renter vacancy rate in Corcoran rose from 1.6 percent in 1980 to 5.7 percent in 1990, and then dropped down to 3.2 percent in 2000. There were 20 rental units available in the neighborhood in 2000. The renter vacancy rate in Corcoran was below the Minneapolis average in 1980 and 1990, but rose above the citywide rate in 2000.
The median housing value in the Corcoran neighborhood dropped from 1980 to 1990, then climbed to $83,800 in 2000. The median value of a home in Corcoran was $29,700 less than the median value of a home in the City of Minneapolis.
In Corcoran, the median cost to live in an owner-occupied home amounted to 29.6 percent of the neighborhood's median household income in 2000. The proportion increased from 1980 to 1990, then decreased in 2000. Median housing cost as a percentage of household income was lower in Corcoran than in the entire city.
The median gross rent in the Corcoran neighborhood was $575 per month in 2000. Using constant dollars, the amount increased by 8 percent from 1980 to 1990 and by 7 percent from 1990 to 2000. The neighborhood's median gross rent equaled the citywide median in 1990, and then rose above the city median in 2000.
In Corcoran, median gross rent amounted to 21.5 percent of the median household income in 2000. The percentage grew by 3.8 percent in the decade between 1980 and 1990 and then slightly dropped from 1990 to 2000. Rent comprised a greater percentage of income for Corcoran residents than Minneapolis residents overall.
Last updated Sep 27, 2011