Before the great recession and the housing market crash there were more homeowner-occupants in St. Paul than there were renters. Today 51.3% of St. Paul residents rent. In
The City of St. Paul did a housing study: Housing Conditions and Trends Inventory, Needs Assessment, and Implementation Strategy that is packed with information about St. Paul housing. Did you know that the median age of housing in St. Paul is 69 years? It is a good thing that I know my way around old houses.
Here are a few charts from the report that I found particularly interesting:
Homeownership in Saint Paul has been declining since 2000. This trend accelerated during the housing crisis (Great Recession) when many single-family homes converted into rental properties due to the inability to sell them; many of these properties remain rentals today.
There was a time in around 2009 to 2011 when it was hard to give a house away. Corporations began buying up small houses and renting them out and renting out houses rather than selling it became a more popular option.
The rental population is most dense in the southern portion of the Highland Park neighborhood, as well as the Union Park, Frogtown/Capitol Heights and the Summit-University neighborhoods.
The proportion of owners is highest in Highland Park, the eastern portion of Como, the northern portion of Payne-Phalen, the Cherokee Park area on the West Side and the eastern portion of the Greater East Side.
We lost housing during the great recession it was torn down and often the land the house sat on was added to an adjacent homeowners lot.
It should also be noted that between 2008 and 2015, Minneapolis’ share of renter households grew from 49 percent to 53 percent, making renters the majority of households in the city.