Housing

Marcy-Holmes had 4,369 housing units in 2000, 30 more units than in 1980. In 2000, the number of vacant housing units in the neighborhood was lower than in 1990. Marcy-Holmes had more than 4,000 housing units in 2000, and only 105 of these units were vacant.

Historically, Marcy-Holmes has been a neighborhood with a high percentage of renter-occupied housing stock. The number of owner-occupied housing units in Marcy-Holmes increased slightly between 1980 and 2000, when there were 442 owner-occupied units in the neighborhood.

Between 1980 and 2000, Marcy-Holmes had very low homeowner and renter vacancy rates, with the exception of spikes in 1990. The citywide homeowner vacancy rate increased slightly in 1990, but then decreased to 0.7 percent in 2000. After renter vacancy rates in the neighborhood rose substantially in 1990, they returned to a level of 1.3 percent again in 2000. That percentage was significantly lower than the city level of 2.8 percent.

Owner-occupied median housing values in Marcy-Holmes have traditionally been higher than the citywide median. In 2000, the median house value in Marcy-Holmes was $130,300 compared to the citywide rate of $113,500.

The cost for a homeowner of maintaining a house, including the mortgage, is high in this neighborhood. In 2000, Marcy-Holmes homeowners paid 54 percent of their median household income on housing costs, while Minneapolis homeowners paid 30 percent. In the neighborhood the median housing cost as a percentage of median household income has increased steadily since 1980.

Marcy-Holmes has consistently offered median gross rents equivalent to the citywide m

Despite having slightly lower rents, Marcy-Holmes renters paid almost 30 percent of median household income for median gross rent in 2000. Citywide renters paid only 18 percent of median household income. In 1990 median gross rent as a percentage of median household income increased for both the neighborhood and Minneapolis.

Last updated Sep 27, 2011