From 1980 to 2000, the total number of housing units in Minnehaha increased
The majority of the housing units in Minnehaha are owner-occupied. From 1980 to 2000, the number of homeowners in the neighborhood increased by almost 300. In 2000, 87 percent of the housing in Minnehaha was owner-occupied
Although following city trends, the homeowner vacancy rate in Minnehaha was always lower than the rate in the city, even at its peak in 1990. In 2000, only 0.2 percent of the owner-occupant properties in the neighborhood rental vacancy rate trend went opposite to the citywide trend. It declined in 2000 to 1.9 percent, 6.2 percent lower
In 1980 the median value of a house in the neighborhood was about $1,700 lower than the citywide median value. In 2000, the median value of a house in Minnehaha was $105,800, almost $7,700 lower than in Minneapolis. Following the city trend, the median house value decreased in 1990, but it rebounded in 2000 even though the values were still lower than they were in 1980.
In 1980, the cost of owning a home in Minnehaha was only 19 percent of the median household income compared to 27 percent in the city. The percentages for both the city and the neighborhood increased the following decade, then decreased in 2000. In 1990 home ownership costs in Minnehaha rose to 24 percent of the median household income and dropped in 2000 to 23 percent. In 2000 the median housing cost, including mortgage, was about $10,300 per year and median income was more than $45,000. The comparison of cost and income shows that owning a home is affordable for residents in Minnehaha.
The median gross rent in Minnehaha is more than Minneapolis'. In 1980, the dollar amount for the neighborhood was $614; by 2000, it had declined to $602 per month, slightly above the city median.
Median gross rent in Minnehaha was 16 percent of the median household income in 1980 and 2000. Rent cost more in the neighborhood than in the city, but because the neighborhood's median income was higher than the city's, median rent was a smaller proportion of income in Minnehaha than in Minneapolis as a whole. An exception to this was recorded in 1990, when the city and the neighborhood rents relative to income were the same.
Last updated Sep 27, 2011