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Minneapolis Housing Cost Trends.

Patnode, Katherine

Minneapolis has seen a change in the housing market over the past few years. From 2001 to 2004 there was a steady increase in residential sales. 2005 marked the beginnings of a decline in sales that would continue through 2006. There was an 11% drop in housing sales from 2005, with 7,422 units sold, to 2006, with 6,616 units sold.1 These housing units include single-family homes and townhomes. While the residential sales have been decreasing, the median home price keeps rising. This leads to the purpose of this research. This is an analysis of the Minneapolis housing market of single-family homes in each individual neighborhood. The data on housing sales in each neighborhood is analyzed with the demographics of that neighborhood according to census data. Minneapolis housing trends will be examined followed by the methodology of the research and the results. An analysis of the research with implications and alternatives will be discussed. Finally, a deeper look in to how the Minneapolis housing market has affected the Jordan neighborhood.

Publication date: 
Conducted on behalf of the City of Lakes Community Land Trust. Supported by Neighborhood Planning for Community Revitalization (NPCR), a program of the Center for Urban and Regional Affairs (CURA), University of Minnesota.
13 pp.
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