Downtown East had 33 occupied housing units in 1980 and 42 in 2000. In 1980, 16 housing units were vacant, but in 2000, only five were.
In 1980, almost all Downtown East housing units were renter-occupied. In 2000, Downtown East had 32 owner-occupied housing units and 10 renter-occupied housing units.
In 1980 and 1990, the housing stock and the population were very small. In 2000 the neighborhood had started building up, but still there was only one housing unit for sale. The homeowner vacancy rate was 3 percent – slightly more than the citywide rate. As the neighborhood's small rental stock decreased, the rental vacancy rate in 2000 reflected just one unit for rent in the market
There were only 2 and 3 owner-occupied housing units in Downtown East in 1980 and 1990 respectively. With new housing units built in the neighborhood, the median housing value in 2000 in Downtown East was $36,500 higher than citywide.
The cost for a homeowner of maintaining a house in this neighborhood, including the mortgage, is a low percentage of the neighborhood's median income. In 2000 median housing costs were 26 percent of median income in Downtown East, compared to 30 percent citywide. In the city, the percentage of income spent on housing increased since 1980.
In Downtown East median gross rent steadily cost less, but by 2000 rental housing had been reduced to only 10 units.
The median gross rent as a percentage of median household income in Downtown East for 1980 and 1990 were 18 percent and 6 percent respectively. In 2000, 18 percent of the median household income in Minneapolis was spent on rent. There is no comparable figure for Downtown East for that year
Last updated Sep 27, 2011