The total number of housing units in Willard Hay decreased from 3,191 in 1980 to 2,977 in 2000. The number of vacant units increased sharply in 1990, when 12 percent of neighborhood residences were empty.
In 2000, two-thirds of the housing units in Willard Hay were owner-occupied and the remaining third were renter-occupied. The split between owned and rented properties stayed fairly constant between 1980 and 2000.
Vacancy rates in Willard Hay and Minneapolis increased in 1990 and then declined beneath 1980 levels a decade later. In 2000, the neighborhood's renter vacancy rate was 4.8 percent and the homeowner vacancy rate was 1.5 percent. Those rates were higher than in Minneapolis as a whole.
The median value of a home in Willard Hay was $79,500 in 2000, $34,000 below the citywide median. Median housing values in both Minneapolis and the neighborhood Median housing value decreased in 1990, then increased in 2000. In Willard Hay, however, median housing values were higher in 1980 than they were in 2000.
In 2000, median housing costs accounted for 30 percent of the median household income in both Willard Hay and Minneapolis. Housing costs as a percentage of income increased steadily for the neighborhood from 1980 to 2000, but decreased citywide from 1990 to 2000. In 1980 and 1990, housing costs as a percentage of median housing income were lower in the neighborhood than the city.
The median gross rent in Willard Hay was $616 a month in 2000, an increase of about $75 from the 1980 level. Rental costs are historically higher in Willard Hay than in Minneapolis.
Rental costs in Willard Hay accounted for 22 percent of the median household income in 2000. Those costs increased steadily between 1980 and 2000. A higher percentage of income goes toward rent in Willard Hay than in Minneapolis overall.
Last updated Sep. 27, 2011