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Melvin, MI Real Estate


According to census data in the year 2000 there were 76 housing units in Melvin. This represents a 16.9% growth from 65 in 1990.

Of those housing units, none were located in either urbanized areas or urban clusters, and 76 were located in what is classified as a rural area.

Homeownership rate in Melvin is about 90.5%. Melvin's vacancy rate, including seasonal lodging, is about 17.1%. Average household size is 2.17 people.

The majority of houses, apartments or condos in Melvin were built after 1952.

Statistics

Housing Size

Housing Units by Size
Studio Type2.60%
One Bedroom3.90%
Two Bedrooms26.30%
Three Bedrooms51.30%
Four Bedrooms13.20%
Five Bedrooms or more2.60%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.26
Median year structure was built1954
Median Value of occupied units$72,500
Median Price asked for vacant units$77,500

Rented Homes, Apartments and Condos

Average Household Size1.33
Median year structure was built1939
Median Monthly Rent asked for vacant units$394

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage0%
Home Equity Loan14.60%
Simple Mortgage34.10%
Debt Free51.20%
As % of Housing Units
     
Median part of Monthly Household Income dedicated to covering home ownership costs13.8%