housing units in Webber-Camden decreased 3 percent. The number of vacant housing units increased 73 percent from 1980 to 2000, from 59 units to 102 units. The overall vacancy rate rose from 2.6 percent in 1980 to 4.6 percent in 2000.
The homeowner vacancy rate rose from 0.8 percent in 1980 to 1.7 percent in 2000, peaking at 2.1 percent in 1990. The neighborhood's renter vacancy rate rose from 2.4 percent to 3.5 percent, peaking at 7.7 percent in 1990. In 1980, both homeowner and renter vacancy rates in Webber-Camden were lower than Minneapolis' vacancy rates, but in 2000 the opposite was true.
From 1980 to 2000, Webber-Camden posted lower median housing values than Minneapolis. Median values (in constant dollars) for owner-occupied housing in Webber-Camden decreased almost 20 percent between 1980 and 2000 from $94,353 to $76,000, hitting a low of $73,553 in 1990. Between 1990 and 2000, median housing values increased more for the city than for the neighborhood – 21 percent for Minneapolis compared to 3 percent for Webber-Camden.
From 1980 to 2000, Webber-Camden housing costs as a percentage of income were lower than the percentages for Minneapolis. The neighborhood and the city followed the same trends. In 2000, neighborhood homeowners paid 28 percent of their household income for housing, and Minneapolis homeowners paid 30 percent. These figures for both Webber-Camden and Minneapolis were lower than their 1990 peaks.
From 1980 to 2000, Webber-Camden had a lower median gross rent than Minneapolis. Between 1980 and 1990, median gross rent for both the neighborhood and the city grew at similar rates. In the following decade, however, Webber-Camden's median gross rent dropped to $460 whereas Minneapolis' rose to $575.
median gross rent increased slightly from 17 percent to 18 percent of city median income between 1980 and 2000, with a peak of 20 percent in 1990. The percentage of income spent on rent in Webber-Camden remained lower than the percentage spent in Minneapolis.
Last updated Sep. 27, 2011