In 2000, the Cleveland neighborhood had 1,283 housing units. The total number of housing units in Cleveland was lower in 2000 than in 1980 and 1990. In 1980, 2.2 percent of the housing units in Cleveland were vacant. In 1990, 4 percent were, and in 2000 vacancies dropped down to 3 percent.
The majority of Cleveland's housing units are owner-occupied, although home ownership rates declined slightly between 1980 and 2000 compared to rentals. In 2000, 84 percent of the housing units in Cleveland were owner-occupied, a slight decrease from 86 percent in 1980.
The homeowner vacancy rates in Cleveland and in Minneapolis were almost identical between 1980 and 2000. Vacancy rates rose in 1990 and then dropped in 2000. The renter vacancy rate in Cleveland, however, rose steadily between 1980 and 2000, despite declines in the citywide renter vacancy rate. In 2000, 6.9 percent of the rental units in Cleveland were vacant.
The median housing value in Cleveland was $82,800 in 2000, $30,700 lower than citywide. The trends in housing values were similar in Cleveland and Minneapolis; values decreased in 1990 and then increased in 2000. Housing values in Cleveland, however, failed to increase at the citywide rate in 2000. The median housing value in Cleveland increased by $800 between 1990 and 2000, while the median housing value in Minneapolis increased by more than $19,600.
The cost of maintaining a home, including the mortgage, is a smaller proportion of household income in Cleveland than in the City of Minneapolis. Home ownership costs constituted 24 percent of the median income in Cleveland in 2000.
The median gross rent rose slightly in Cleveland to $532 a month in 2000. In 1990 and 2000, median gross rent was lower in Cleveland than citywide.
Last updated Sep 27, 2011