Indicator 45: 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.
About this indicator: The rate of home ownership in Minnesota has leveled off and fallen slightly since 2005. The rate was 73.7 percent in 2009, down from 75.8 percent in 2005. The crisis in the housing market has increased the number of foreclosures and made some families leery about buying a house.
Home ownership rose substantially in the 1990s and early 2000s. The 1990 rate was 71.8; this rose to 74.6 percent in 2000.
Home ownership in Minnesota, total (percent)
| Year | Data |
|---|---|
| Home ownership in Minnesota, total (percent), U.S. Bureau of the Census | |
| 1980 | 71.7% |
| 1990 | 71.8% |
| 1991 | 68.9% |
| 1992 | 66.7% |
| 1993 | 65.8% |
| 1994 | 68.9% |
| 1995 | 73.3% |
| 1996 | 75.4% |
| 1997 | 75.4% |
| 1998 | 75.4% |
| 1999 | 76.1% |
| 2000 | 74.6% |
| 2001 | 76.1% |
| 2005 | 75.8% |
| 2006 | 76.3% |
| 2007 | 75.2% |
| 2008 | 74.7% |
| 2009 | 73.7% |
For comparison: In 2009, Minnesota had the highest home ownership rate among all states. The national average was 65.9 percent.
Sources:
- www.census.gov http://factfinder.census.gov/home/saff/main.html
Related 2002 Milestones indicator:
Milestones is a product of the Minnesota State Demographic Center, a division of the Department of Administration