Housing

There were 3,805 housing units in Seward in 2000. That's 20 fewer than a decade earlier, but 135 more than in 1980. The number of vacant housing units increased between 1980 and 1990, but by 2000 the number of vacant housing units dropped below the 1980 vacancy level.

Between 1980 and 2000, owner-occupied housing units in Seward increased from 1,078 to 1,290. The number of renter-occupied housing units dropped somewhat during this time period.

There has been a decrease in Seward's homeowner vacancy rate , from 2 percent in 1980 to 0.5 percent in 2000. This decline is due to the fact that the number of houses for sale – that is, houses available for home ownership – dropped. While the citywide homeowner vacancy rate fell to its lowest level since 1980, it was still higher than the neighborhood vacancy rate. The 2000 renter vacancy rate in the neighborhood fell slightly below the 1980 level after a sharp increase in 1990, when the number of vacant and available apartments was at its highest. Similar patterns in renter vacancy rates prevailed in Minneapolis, with the renter vacancy rate consistently lower in the neighborhood than in all of Minneapolis.

Median housing values in Seward increased significantly between 1980 and 2000 in constant dollars, despite a decrease in 1990. This same trend in median constant housing values can somewhat be observed in Minneapolis, although the city's values for 2000 were slightly below its own 1980 levels. In 2000, Seward's median constant housing value was slightly lower than the citywide level.

The amount of money a homeowner must pay to maintain a house, including the mortgage, is higher in Seward than it is in Minneapolis. In 2000, neighborhood homeowners paid 35 percent of their household income as compared to the 30 percent paid in Minneapolis.

Seward's median gross rent is lower than the citywide median. In 1980, at $462 a month Seward's was only slightly less expensive than Minneapolis' median rent of $479. This gap in median gross rent increased in 1990 and continued to grow into 2000, with the neighborhood offering consistently lower rents.

Historically, residents of Seward paid a higher percentage of household income for gross rent than Minneapolis residents did. This gap has narrowed, with Seward residents in 2000 paying 20 percent of their income for rent as compared to Minneapolis residents paying 18 percent of their income for rent.

Last updated Sep 27, 2011