Minneapolis, MN Real Estate

According to census data in the year 2000 there were 168,624 housing units in Minneapolis. This represents a 2.3% decline from 172,666 in 1990.

Of those housing units, 168,624 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Minneapolis is about 51.4%. Minneapolis's vacancy rate, including seasonal lodging, is about 3.7%. Average household size is 2.24 people.

The majority of houses, apartments or condos in Minneapolis were built after 1939.


Housing Size

Housing Units by Size
Studio Type8.30%
One Bedroom26.50%
Two Bedrooms30.40%
Three Bedrooms24.40%
Four Bedrooms8.20%
Five Bedrooms or more2.20%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.47
Median year structure was built1939
Median Value of occupied units$113,500
Median Price asked for vacant units$114,900

Rented Homes, Apartments and Condos

Average Household Size2.01
Median year structure was built1953
Median Monthly Rent asked for vacant units$593

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.50%
Second Mortgage9.30%
Home Equity Loan10.10%
Simple Mortgage58.80%
Debt Free21.20%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs18.8%