Detroit, MI Real Estate
According to census data in the year 2000 there were 375,096 housing units in Detroit.
This represents a 8.5% decline from 410,027 in 1990.
Of those housing units, 375,096 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Detroit is about 54.9%.
Detroit's vacancy rate, including seasonal lodging, is about 10.3%.
Average household size is 2.77 people.
The majority of houses, apartments or condos in Detroit were built after 1948.
|Housing Units by Size|
|Five Bedrooms or more||2.90%|
Owned Homes, Apartments and Condos
|Average Household Size||2.87|
|Median year structure was built||1946|
|Median Value of occupied units||$63,600|
|Median Price asked for vacant units||$55,300|
Rented Homes, Apartments and Condos
|Average Household Size||2.65|
|Median year structure was built||1950|
|Median Monthly Rent asked for vacant units||$370|
Owners Finance Status
|Second Mortgage & Equity Loan||0.30%|
|Home Equity Loan||7%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||17.7%|