Lowell, MI Real Estate
According to census data in the year 2000 there were 1,550 housing units in Lowell.
This represents a 2.6% growth from 1,510 in 1990.
Of those housing units, 1,483 were located in either urbanized areas or urban clusters, and 67 were located in what is classified as a rural area.
Homeownership rate in Lowell is about 68.5%.
Lowell's vacancy rate, including seasonal lodging, is about 5.1%.
Average household size is 2.52 people.
The majority of houses, apartments or condos in Lowell were built after 1965.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.50% |
| One Bedroom | 14.30% |
| Two Bedrooms | 31.90% |
| Three Bedrooms | 36% |
| Four Bedrooms | 13.30% |
| Five Bedrooms or more | 4% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.81 |
| Median year structure was built | 1959 |
| Median Value of occupied units | $98,500 |
| Median Price asked for vacant units | $151,600 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.88 |
| Median year structure was built | 1973 |
| Median Monthly Rent asked for vacant units | $497 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 7.10% |
| Home Equity Loan | 9.70% |
| Simple Mortgage | 61.40% |
| Debt Free | 21.70% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.2% |
