We have established some differences between different parts of the City of Minneapolis. For example, we know that the foreclosure numbers and rates are the highest in Wards 4 and 5 in North Minneapolis as Figure 2 demonstrates. We know that both of those wards also have the highest concentration of condemned and vacant buildings. But we now have some additional information to add to this difference – Median Household Income.
Figure 1 provides us an opportunity to compare and contrast two zip codes in North Minneapolis and two zip codes in South Minneapolis. As we can see, the percentage of median household incomes in the two zip codes in South Minneapolis – 55406 and 55419 – are higher than the two zip codes on the north side.
Whereas the median household income greater than $75 thousand is above 35 percent in the 55406 and almost 60 percent in the 55419, we see that the median household income greater than $75 thousand is only about 15 percent for the 55411 and about 25 percent for the 55412. Clearly, there is a difference ranging from 10 percent to 45 percent depending on what zip codes we compare.
Moving forward, this data will add to our already accumulated knowledge of North Minneapolis and Minneapolis in general. But what are some questions we may want to ask from this new information? Since we have some knowledge about foreclosure rates and condemned and vacant buildings, perhaps we will want to see if there is a correlation between median household incomes and foreclosures and condemned and vacant buildings.
Or what about knowing the levels and rates of home ownership in the respective zip codes? How does the north side compare to the south side in home ownership? These questions are important because we agree that home ownership is a part of the American dream, right? And finally, these questions are important because eventually they will lend to future policies.