Minneapolis Diamond Lake Neighborhood
The neighborhood of Diamond Lake is situated on the south side of Minneapolis and is bound by Highway 77 and Cedar Avenue on the east, Second Avenue South and Interstate 35W on the west, 55th Street East and Diamond Lake Road on the north and Highway 62 that runs along the city limits on the south.
The Minneapolis-St. Paul International Airport is directly located to the southwest and Richfield City is directly south. Diamond Lake has acquired its name from the lake that is located on its western end. The northeastern tip of the neighborhood links to the recreation areas and parks of Lake Nokomis. The neighborhood in south Minneapolis is bordered by 40 acres of parkland which was created in the year 1926.
The average size of household in the neighborhood of Diamond Lake was 2.35 people in 2000 which is a decline from the levels in 1990 and 2000. Still, this average size of household is relatively higher for Minneapolis.
There was a decline in the number of its family households in 1990 and 2000 while the number of individuals who live alone increased. In 1990, there were more people who lived alone and are over the age of 65 than there were individuals living under that age. However, in 2000, the number of seniors who lived alone declined to 209 from 291. The number of individuals who are not related but living together increased in the years 1990 and 2000.
The housing units of Diamond Lake were 98.7% occupied in the year 2000. There were only 31 vacant units in the neighborhood. Despite the decrease in population until 2000, the amount of vacant housing has remained between one and two percent of all units. About 91% of the occupied housing units in the neighborhood were occupied by the owner in 2000. The figure declined by 34 units between the years 1980 and 1990 then rise by 17 between 1990 and 2000. Approximately, 190 of the 2,223 housing units in the neighborhood were rentals in 2000.
In 2000, the homeowner vacancy rate was 0.3%. All over the city, this rate was around 0.7 percent. The fraction of rental units in the neighborhood of Diamond Lake was below the average citywide in three years from 1980 and 2000. The neighborhood rental vacancy rate in the Diamond Lake declined a bit. But the rental vacancy rate of the city was drastically decline, the gap between Diamond Lake and Minneapolis substantially narrowed.
The increased number of occupancy in the housing units of the neighborhood of Diamond Lake is only an indication that many people were attracted to live there. Although the vacancy rates on home ownership and rental have been fluctuating, the fact that it significantly reduced in the recent years can be a proof to its attractiveness in residency. Apart from its growing population, there were also increased numbers of business establishments that everyone, both the residents and visitors can enjoy.
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Today's Market Trends for Minneapolis Diamond Lake Neighborhood *
* All data pertains to single-family homes