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Buchanan, MI Real Estate


According to census data in the year 2000 there were 2,132 housing units in Buchanan. This represents a 0.7% growth from 2,117 in 1990.

Of those housing units, 2,132 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Buchanan is about 62.8%. Buchanan's vacancy rate, including seasonal lodging, is about 6.4%. Average household size is 2.44 people.

The majority of houses, apartments or condos in Buchanan were built after 1953.

Statistics

Housing Size

Housing Units by Size
Studio Type1.40%
One Bedroom17.70%
Two Bedrooms32.80%
Three Bedrooms30.60%
Four Bedrooms14.30%
Five Bedrooms or more3.10%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.77
Median year structure was built1944
Median Value of occupied units$69,300
Median Price asked for vacant units$68,800

Rented Homes, Apartments and Condos

Average Household Size1.86
Median year structure was built1971
Median Monthly Rent asked for vacant units$396

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage5.40%
Home Equity Loan13%
Simple Mortgage60.20%
Debt Free21.40%
As % of Housing Units
       
Median part of Monthly Household Income dedicated to covering home ownership costs17.6%