In 2000 there were 2,153 housing units in Folwell – 90 more units than in 1980 and 40 fewer than in 1990. In 1980, 1.8 percent of the housing stock was vacant. In 1990 the vacancy rate increased to 4.7 percent, and in 2000 it increased again to 5 percent.
Most houses in Folwell are owner-occupied. Home ownership in the neighborhood is high with owners rather than renters living in 77 percent of all occupied housing units in 2000. That's the same level as 1980 and higher than the 75 percent of 1990.
The percentage of housing units that were for sale in the neighborhood increased from a low of 0.5 percent in 1980 to a high of 2.3 percent in 2000. In 1980 Folwell's homeowner vacancy rate was lower than the citywide rate. However, they were nearly the same in 1990 when 2 percent of ownership housing was for sale in the neighborhood. Folwell's rate peaked in 2000, while the citywide rate hit a low point. From 1980 to 1990, the neighborhood rental vacancy rate was lower than the citywide rate, but it followed the same trend. From 1990 to 2000, the neighborhood rental vacancy rate increased slightly and the citywide rate decreased sharply from its 1990 peak.
Median house values are lower in Folwell than Minneapolis, and the neighborhood values have been decreasing since 1980. In 1980, median housing values were $19,400
Housing continues to be affordable in Folwell. In 2000, 26 percent of median household income was spent on keeping a house – including the mortgage – in the neighborhood, and 30 percent was spent in Minneapolis.
The median gross rent increased steadily in the neighborhood from $496 in 1980 to $635 in 2000. The rent increased more in Folwell than in Minneapolis. In 2000 median gross rent was $60 more in the neighborhood than in the city.
Last updated Sep 27, 2011