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Indicator : Home ownership

Rationale: A high home ownership rate is typically an indication that the housing stock is in at least fair condition and that housing is affordable.

Home ownership in Minnesota, total (percent)

Year
198071.7%
199071.8%
199168.9%
199266.7%
199365.8%
199468.9%
199573.3%
199675.4%
199775.4%
199875.4%
199976.1%
200074.6%
200176.1%
 graph
Local data

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, American Indian or Alaska Native alone (percent)

Year
200050.1%

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, Asian alone (percent)

Year
200053.3%

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, Black or African American alone (percent)

Year
200031.5%

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, Native Hawaiian or other Pacific Islander alone (percent)

Year
200046.8%

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, White alone (percent)

Year
200077.2%

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, some other race alone (percent)

Year
200038.1%

Data source: U.S. Bureau of the Census

Home ownership in Minnesota, two or more races (percent)

Year
200046%

Data source: U.S. Bureau of the Census

About this indicator: The percentage of housing units occupied by owners dipped early in the last decade, but since 1996 three out of four Minnesota homes were owner-occupied. A high home ownership rate typically reflects a strong economy and an affordable housing market. As the employment rate and income rose during the 1990s, Minnesota's home ownership rate climbed. High home ownership rates for communities and neighborhoods signify long-term economic and social commitments by homeowners.

Home ownership rates differ significantly by race. In 2000, householders who identified themselves as a single race had the following home ownership rates: Black or African American, 31.5 percent; American Indian or Alaska Native, 50.1 percent; Asian, 53.3 percent, Native Hawaiian or Other Pacific Islander, 46.8 percent; and White, 77.2 percent. Due to changes in race classifications in the 2000 Census, no comparison is possible with previous census data.

For comparison: Minnesota continues to have one of the highest home ownership rates in the United States, ranking fourth in 2001. Michigan, Iowa and West Virginia had the three highest rates respectively in 2001. The national home ownership rate in 2001 was 67.8 percent, compared to 76.1 percent in Minnesota. In the 2000 Census, Chisago and Scott counties had the highest home ownership rates in Minnesota at 87 and 86 percent, respectively. Ramsey and Hennepin counties had the lowest rates at 63 and 66 percent.

Things to think about: Large urban centers tend to have lower home ownership rates, primarily because of the large numbers of apartments in their housing stock and significant concentrations of poverty.

Technical notes: The survey methodology changed beginning in 1994. Therefore, data before and after that date are not comparable.

Sources:

  • U.S. Bureau of the Census, Decennial Census, 1980, 1990 and 2000; estimates for other years, Current Population Survey: www.census.gov

Related indicators:

Other related indicators:

  • Home ownership rate for young people (U.S. Census Bureau, www.census.gov)
  • Mortgage foreclosure rate for low-income homeowners (Minnesota Housing Finance Agency, www.mhfa.state.mn.us)
  • Percentage of housing units with severe physical problems or overcrowding (U.S. Census Bureau, www.census.gov)

Retrieve county data for: Home ownership in Minnesota, total (percent)

Create Map: Home ownership in Minnesota, total (percent)

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Technical problems? Contact: andrew.koebrick@state.mn.us