Although the amount of housing stock in Cooper has gone down since 1980, most of the homes are occupied. The overall vacancy rate declined from 2.5 percent in 1980 to 2.1 percent in 2000, after peaking at 3.8 percent in 1990.
Occupied housing in Cooper neighborhood is mainly owned, not rented. In 2000, 82 percent of the occupied housing units were owner-occupied and only 18 percent were renter-occupied. This was a slight increase in the proportion of owner-occupied housing from the previous two decades when it comprised 79 percent of all occupied housing.
Cooper tended to have a lower homeowner vacancy rate than Minneapolis, although in 2000 both rates declined to nearly equal each other. The neighborhood rate followed the citywide trend, but at a lower level. In 1980 there were proportionally more units available for rent in Cooper than in Minneapolis, but the citywide proportion of vacant rental units grew more than the neighborhood's until in 1990 the situation was reversed. The neighborhood renter vacancy rate declined steeply from a high of 6.4 percent in 1990 to a low of 1.7 percent in 2000.
Median housing values in Cooper are slightly lower than citywide values, but they followed the same trend from 1980 to 2000. Cooper's median housing value decreased by 0.8 percent and Minneapolis' value decreased by 1.3 percent.
Housing cost as a proportion of income in the neighborhood was the same in 1980 and 2000, but jumped 6 percent in 1990. Although higher than the neighborhood proportion, the city followed the same trend.
Rent tended to be higher in Cooper than in Minneapolis overall. The neighborhood's median monthly rent declined by 13 percent from 1990 to 2000, but was still $71 higher than in the city.
Even though rent tended to be higher in Cooper than in all of Minneapolis, higher wages had median gross rent amounting to a smaller percentage of median household income in the neighborhood. The proportion of income spent on rent was only 15 percent in 2000 compared to 18 percent citywide. The 2000 proportion in the neighborhood was a decline from 16 percent in 1980 and 21 percent in 1990.
Last updated Sep. 27, 2011