Homeownership Rate for Minnesota
MNHOWN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71.00
Year-over-Year Change
-1.39%
Date Range
1/1/1984 - 1/1/2024
Summary
The Homeownership Rate for Minnesota measures the percentage of occupied housing units that are owner-occupied in the state. It is a key indicator of housing market conditions and household wealth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Homeownership Rate is an important metric for understanding housing affordability, residential investment, and broader economic trends. Policymakers and analysts use this data to evaluate policies and track changes in home ownership over time.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
The Homeownership Rate is closely watched by real estate investors, mortgage lenders, and government agencies.
Key Facts
- Minnesota's homeownership rate was 72.3% as of the latest data.
- The state's homeownership rate is above the national average of 65.5%.
- Homeownership rates have declined since peaking in the early 2000s.
FAQs
Q: What does the Homeownership Rate for Minnesota measure?
A: The Homeownership Rate for Minnesota measures the percentage of occupied housing units in the state that are owner-occupied, as opposed to renter-occupied.
Q: Why is the Homeownership Rate relevant for users or analysts?
A: The Homeownership Rate is an important indicator of housing affordability, household wealth, and broader economic conditions in Minnesota. It is closely tracked by policymakers, real estate investors, and other stakeholders.
Q: How is the Homeownership Rate data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is the Homeownership Rate used in economic policy?
A: Policymakers use the Homeownership Rate to evaluate housing policies, track changes in home ownership over time, and understand broader trends in the housing market and household wealth.
Q: Are there any update delays or limitations with the Homeownership Rate data?
A: The Homeownership Rate data is published periodically by the U.S. Census Bureau, with some potential delays in availability. Users should check the latest release date to understand any limitations.
Related Trends
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90% Confidence Interval Lower Bound of Estimate of Related Children Age 5-17 in Families in Poverty for Minnesota
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Citation
U.S. Federal Reserve, Homeownership Rate for Minnesota (MNHOWN), retrieved from FRED.