Morenci, MI Real Estate
According to census data in the year 2000 there were 952 housing units in Morenci.
This represents a 4.4% growth from 912 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 952 were located in what is classified as a rural area.
Homeownership rate in Morenci is about 71.9%.
Morenci's vacancy rate, including seasonal lodging, is about 6.6%.
Average household size is 2.67 people.
The majority of houses, apartments or condos in Morenci were built after 1944.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.40% |
| One Bedroom | 13.80% |
| Two Bedrooms | 26.20% |
| Three Bedrooms | 37.50% |
| Four Bedrooms | 16.10% |
| Five Bedrooms or more | 5.10% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.89 |
| Median year structure was built | 1939 |
| Median Value of occupied units | $77,800 |
| Median Price asked for vacant units | $73,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.1 |
| Median year structure was built | 1969 |
| Median Monthly Rent asked for vacant units | $583 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 5.40% |
| Home Equity Loan | 9.90% |
| Simple Mortgage | 53.90% |
| Debt Free | 30.90% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.7% |
