Michigan Real Estate
According to census data in the year 2000 there were 4,234,279 housing units in Michigan.
This represents a 10% from 3,847,926 in 1990.
Of those housing units, 3,054,616 were located in either urbanized areas or urban clusters, and 1,179,663 were located in what is classified as a rural area.
Homeownership rate in Michigan is about 73.8%.
Michigan's vacancy rate, including seasonal lodging, is about 10.6%.
Average household size is 2.56 people.
The majority of houses, apartments or condos in Michigan were built after 1965.
|Housing Units by Size|
|Five Bedrooms or more||2.7%|
Owned Homes, Apartments and Condos
|Average Household Size||2.68|
|Median year structure was built||1964|
|Median Value of occupied units||$115,600|
|Median Price asked for vacant units||$88,400|
Rented Homes, Apartments and Condos
|Average Household Size||2.21|
|Median year structure was built||1967|
|Median Monthly Rent asked for vacant units||$444|
Owners Finance Status
|Second Mortgage & Equity Loan||0.1%|
|Home Equity Loan||10.6%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||17.1%|
Cities & Towns