There were 1,448 housing units in Ericsson in 2000, seven more than in 1980. The number of vacant housing units increased by 14 from 1980 to 1990, but then dropped by eight in 2000.
Ownership in the neighborhood increased between 1990 and 2000, from 1,151 owner-occupied units to 1,216. In 1980, 84 percent of the neighborhood consisted of owner-occupied housing units. It decreased to almost 82 percent in 1990, then climbed to 86 percent in 2000.
Ericsson's homeowner vacancy rate increased from 0.4 percent in 1980 to 1 percent in 1990 and then dropped to 0.6 percent in 2000. The citywide homeowner vacancy rate increased slightly in 1990 and then decreased to 0.7 percent in 2000. The 2000 renter vacancy rate in the neighborhood, 4.6 percent, was more than double the 1980 level. In Minneapolis, renter vacancy rates fell from 8.8 percent in 1990 to 2.8 percent in 2000.
Median housing values for owner-occupied housing are slightly higher in Ericsson than in Minneapolis. The dollar amount for the neighborhood decreased significantly in 1990 before rising to just below the 1980 level. This pattern is similar to what was seen throughout the city.
The cost for a homeowner of maintaining a house in Ericsson, including the mortgage, is slightly lower than the citywide median. In 2000 the neighborhood homeowners paid almost 23 percent of their median household income when Minneapolis homeowners paid 30 percent.
Between 1980 and 2000 Ericsson's median gross rent was higher than the median for all of Minneapolis. In 1980, the dollar amount for the neighborhood was $635 a month compared to the citywide figure of $479. In 2000, Ericsson's median gross rent was $705 compared to the city's of $575.
Since 1990 renters in Ericsson have paid a lower percentage of median household income for gross rent than Minneapolis residents. This gap slightly narrowed in 2000, with Ericsson renters spending 17 percent of their income for rent as compared to Minneapolis renters paying 18 percent.
Last updated Sep 27, 2011