There were 1,601 housing units in Kenny in 2000, 32 more than it had in 1980. The number of vacant units in the neighborhood increased between 1980 and 1990, but then in 2000 they decreased back to 1980 levels. The number of occupied units in Kenny steadily increased between 1980 and 2000, and the overall vacancy rate was very low, only 0.6 percent, in 2000.
Housing ownership and renting both increased in the neighborhood between 1980 and 2000. Most people by far own their own homes in Kenny, compared to those who rent. Rental units comprised only 5.6 percent of all occupied housing units
The homeowner vacancy rate is very low in Kenny and lower than Minneapolis'. In 1980 and 1990 it stood at less than 1 percent, and in 2000 it was zero with no houses for sale in the neighborhood. The renter vacancy rate was also much lower than the citywide rate, and although they followed the same trend, the neighborhood increase and decline were not as sharp. In 1990, when vacancy rates went up, the rental vacancy rate was 2.4 percent in the neighborhood and 8.1 percent citywide.
The median housing values in 2000 dollars were much higher in the neighborhood than the city from 1980 to 2000. Kenny followed the citywide trends, starting out high and then decreasing in value before increasing again in 2000. The median housing value ended in Kenny at $150,200 in 2000 – $36,700 more than the $113,500 in Minneapolis.
It is more affordable to maintain a house in Kenny than in Minneapolis, given the income levels. The median cost of maintaining a house, including paying mortgage, cost 14 percent of the median household income in the neighborhood, while in Minneapolis it cost 30 percent of income. In 1990 the costs of maintaining a house increased in both the city and the neighborhood, and homeowners in the neighborhood paid significantly more of their household income toward maintaining a house. In 2000, the proportion of median household income spent on housing decreased sharply in the neighborhood, reflecting a sharp increase in income.
Kenny's median gross rent cost significantly more than the citywide rent between 1980 and 1990 and slightly more in 2000. Rent declined in Kenny while the citywide rent gradually increased. In 2000, the gap between Minneapolis and Kenny began to close, with $658 for rent in Kenny and $575 citywide.
Kenny neighborhood renters paid a smaller percentage of median household income for rent than City of Minneapolis renters did. In 2000, median rent cost 12 percent of the median household income in the neighborhood compared to 18 percent citywide.
Last updated Sep 27, 2011