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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 Type2.4%
One Bedroom13.3%
Two Bedrooms27.4%
Three Bedrooms35.1%
Four Bedrooms17.8%
Five Bedrooms or more4%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.71
Median year structure was built1969
Median Value of occupied units$122,400
Median Price asked for vacant units$92,800

Rented Homes, Apartments and Condos

Average Household Size1.99
Median year structure was built1970
Median Monthly Rent asked for vacant units$464

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.1%
Second Mortgage9.3%
Home Equity Loan11.1%
Simple Mortgage53.4%
Debt Free25.8%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs17.8%

Cities & Towns


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