This Web-based document was archived by the Minnesota Legislative Reference Library.
Minnesota Milestones 2010: Housing Costs
 
 
How is Minnesota doing?
Keep an eye out for these images to quickly tell which way the trend is going:
Thumbs down
Undesirable or negative
Thumbs maybe
No change, or not enough data to draw conclusions
Thumbs up
Desirable or positive.
login

Indicator 46: Housing Costs

Thumbs maybeimage
Goal: All Minnesotans will have decent, safe and affordable housing.
Rationale: This indicator defines housing affordability in relation to household income.
About this indicator: Housing costs are rising relative to income for owners and declining for renters. The percentage of all households spending at least 30 percent of their income on housing declined from 31.1 to 27.8 percent between 2005 and 2009. Among renters, 46.8 percent spent at least 30 percent of their income on housing. Among homeowners, the figure was 30.4 percent.
graph
Share of income spent on housing, renters
YearData
Share of income spent on housing, owners, U.S. Census Bureau Edit trend | Edit data
Share of income spent on housing, renters, U.S. Census Bureau Edit trend | Edit data
Owners Renters
200526.1% 48.1%
200628.3% 47.4%
200728.5% 46.9%
200828.7% 49.1%
200930.4% 46.8%
         Select data sets for individual graphing:
Create merged graph of all datasets
Create merged graph of selected datasets
For comparison: Among owner-occupied households with a mortgage, Minnesota ranked 29th on the percent spending 30 percent of more of their income on housing costs. The Minnesota figure was 37.5 percent in 2009.

Housing costs are considerably higher than in the 2000 Census, when 37 percent of renters and 22 percent of owners lived in unaffordable housing.

Technical notes: Spending more than 30 percent of income on housing is a widely accepted indicator of expenditure levels that most households cannot afford.
Sources:
Related 2002 Milestones indicator:
Local data:

Milestones is a product of the Minnesota State Demographic Center, a division of the Department of Administration