From 1980 to 2000, the housing stock in McKinley decreased by about 150 units, while the number of vacant units increased by 64. As a result, the vacancy rate climbed from 3 percent in 1980 to 8 percent in 2000.
Most of the housing units in McKinley were owner-occupied. And although the number of units decreased, housing ownership in the neighborhood stood at 74 percent in 1980 and 2000.
In 1980, McKinley's homeowner vacancy rate was very low compared to the citywide rate. However, in 1990 it jumped to more than twice the citywide rate. In 2000 it declined slightly. The neighborhood's rental vacancy rate followed the homeowner vacancy rate trend, and in 2000 it was well above the city rental vacancy rate.
McKinley's median housing values were lower than Minneapolis'. These dollar amounts decreased significantly between 1980 and 2000 in the neighborhood and citywide. The median housing value in 2000 in McKinley was $18,000 lower than it was in 1980 and about $41,500 lower than the citywide median value.
Median housing costs – including mortgage – are a much lower proportion of income in McKinley than in Minneapolis. In 2000, the neighborhood housing costs were 25 percent of median household income – a 5-percent increase from 1980 but still about 5 percent lower than citywide.
McKinley's median gross rent was higher than Minneapolis' in 1980, but by 2000 it was $8 lower than Minneapolis'.
The proportion of median household income spent on median gross rent in McKinley was similar to the proportion spent in Minneapolis. Between 1980 and 2000, the percentage of income paid for rent tended to increase
Last updated Sep 27, 2011