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City Releases 2012 Housing Indicator Report

by
For rent sign.
For rent sign.

DULUTH, MN (KDAL) - The number of valid home sales in Duluth jumped from 536 to 763 between 2011 and 2012, according to a new housing indicator report released Friday by the city's community development division. The group compiled data from a number of sources, including the U.S. census, the Minnesota Department of Employment and Economic Development and the Duluth Area Association of Realtors. The Community Development Committee uses the information to determine housing needs and to identify which local efforts to fund. Likewise, businesses, developers and property owners use the data in business planning and decision making. Other findings of note:

- The average vacancy rate for rental properties increased to 4.1 percent in 2012 from 3.6 percent the year previous;

- The average monthly rent rose from $700 to $712; and

- There were 141 new housing units given the green light in 2012.

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