Waite Park had 2,434 housing units in 2000, 24 fewer units than in 1990. Most of the units were occupied in 2000 even though the vacancy rate increased from 0.4 percent in 1980 to 1.2 percent in 2000. In 1990 however, the vacancy rate reached a high of 1.8 percent – 44 vacant units.
Since 1980, Waite Park has had a high percentage of owner-occupied housing stock. The percentage remained quite stable at around 90 percent between 1980 and 2000. In 1990 it reached its lowest level of 89 percent.
Between 1980 and 2000 homeowner vacancy rates in Waite Park followed the city trends, albeit at a lower level. They peaked in 1990 and declined in 2000 without returning to the lows of 1980. Renter vacancy rates in the neighborhood did not follow citywide trends after 1990. Neighborhood rental vacancies increased sharply from 1980 to 1990 and then declined slightly from 1990 to 2000 while the city rate fell sharply. In 2000, Waite Park's 3.7 percent renter vacancy rate was higher than the city level of 2.8 percent.
Median house values in Waite Park followed citywide trends, and they were at roughly the same level. Values in the neighborhood were slightly higher than in Minneapolis in 1980 and lower in 2000 by $3,700.
The percentage of income a homeowner spends to maintain a house, including paying the mortgage, is low in Waite Park. In the neighborhood and in the city, the percentage of median household income spent on median housing costs increased from 1980 to 2000 but decreased the following decade. In 2000, 23 percent of median household income in the neighborhood was spent on house maintenance compared to 30 percent spent in Minneapolis.
Median rent was higher in Waite Park than citywide. The median gross rent increased between 1990 and 2000 in the neighborhood and in Minneapolis. It was $112 higher in Waite Park than in Minneapolis in 1980 and $84 higher in 2000.
Rent as a percentage of income is lower in Waite Park than in the city as a whole. In 1980 and 1990, median gross rent cost 16 percent of the neighborhood median household income. In 2000, it cost 17 percent of the neighborhood median household income and 18 percent citywide.
Last updated Sep 27, 2011