Housing

The housing stock totaled 3,091 units in 2000 – six units more than in 1980 but 13 fewer than in 1990. The overall vacancy rate landed at 2 percent in 2000 compared to 3.2 percent in 1990 and 2.1 percent in 1980.

Most of the occupied housing units are owner-occupied. Home ownership in the neighborhood was at 79 percent in 1980, 77 percent in 1990 and 80 percent in 2000.

The homeowner vacancy rate is lower in the neighborhood than in the city. In 2000, 0.5 percent of the owner-occupant units were vacant, compared to 0.7 percent in Minneapolis. The 2000 neighborhood rate was slightly higher than it was in 1980.

Howe's rental vacancy rate followed citywide trends, recovering in 2000 after rising to a high of 5.7 percent in 1990.

Between 1980 and 2000, median housing values were lower in the neighborhood than in the city, but the neighborhood followed citywide trends. Houses in the neighborhood cost 0.8 percent more in 2000 than in 1980 and 24 percent more than in 1990.

In 1980 and 2000, a much lower percentage of income went toward housing costs in Howe than citywide. In 2000, 23 percent of the neighborhood's median household income went for housing costs compared to 30 percent in the city. In 1990, the higher share of income demanded by housing costs reflected the impact of an economic downturn in the neighborhood.

Median rent in the neighborhood was at or near the same level as the city in 1980 and 1990. In 2000, it decreased to $551, compared to $575 citywide.

The percentage of income used for rent was lower in the neighborhood than in the city except in 1990, when the neighborhood percentage soared 8 points.

Last updated Sep. 27, 2011