Minnesota Real Estate
According to census data in the year 2000 there were 2,065,946 housing units in Minnesota.
This represents a 11.8% from 1,848,445 in 1990.
Of those housing units, 1,409,721 were located in either urbanized areas or urban clusters, and 656,225 were located in what is classified as a rural area.
Homeownership rate in Minnesota is about 74.5%.
Minnesota's vacancy rate, including seasonal lodging, is about 8.3%.
Average household size is 2.52 people.
The majority of houses, apartments or condos in Minnesota were built after 1969.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.4% |
| One Bedroom | 13.3% |
| Two Bedrooms | 27.4% |
| Three Bedrooms | 35.1% |
| Four Bedrooms | 17.8% |
| Five Bedrooms or more | 4% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.71 |
| Median year structure was built | 1969 |
| Median Value of occupied units | $122,400 |
| Median Price asked for vacant units | $92,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.99 |
| Median year structure was built | 1970 |
| Median Monthly Rent asked for vacant units | $464 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.1% |
| Second Mortgage | 9.3% |
| Home Equity Loan | 11.1% |
| Simple Mortgage | 53.4% |
| Debt Free | 25.8% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.8% |
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