Beltrami had 502 housing units in 2000, 42 more units than it had in 1980. In 2000, Beltrami had 27 vacant units and an overall vacancy rate of 5.4 percent – down from its 29 vacant units and vacancy rate of 6.3 percent in 1980.
In 2000, Beltrami was a neighborhood with an even percentage of renter- and owner-occupied housing stock. The proportion of homeowners increased from about 41 percent in 1980 to 50 percent in 2000.
Beltrami's homeowner vacancy rate decreased from 2.2 percent in 1980 to zero in 2000. In 2000 there were no homes for sale in the neighborhood. The citywide homeowner vacancy rate increased slightly in 1990, and then decreased to 0.7 percent in 2000. Renter vacancy rates increased since 1980, after peaking in 1990. In 2000, the 4.8-percent renter vacancy rate in Beltrami was higher than the city's level of 2.8 percent.
Owner-occupied housing tended to cost less in Beltrami than Minneapolis. In 2000, the median house value in Beltrami was $92,500, $21,000 lower than in Minneapolis.
The cost for a homeowner of maintaining a house, including the mortgage, is lower in Beltrami than citywide. median housing costs in the neighborhood were 28 percent of median household income. In Minneapolis they cost 30 percent of income. In the neighborhood and in the city, the percentage of income spent on housing costs increased since 1980, showing that although income increased, housing costs increased more.
Rent in Beltrami tended to follow the citywide trend but cost somewhat more. In 2000 the median gross rent was $48 higher in the neighborhood than in the city. The median gross rent increased between 1980 and 2000 in the neighborhood by $114 and in Minneapolis by $96.
Median gross rent as a percentage of median household income went up steadily but slowly in Beltrami and tended to be higher than rent citywide. In 2000 the proportion of income spent on rent was 22 percent in the neighborhood and 18 percent in the city.
Last updated Sep. 27, 2011