Romeo, MI Real Estate
According to census data in the year 2000 there were 1,605 housing units in Romeo.
This represents a 16.1% growth from 1,382 in 1990.
Of those housing units, 1,605 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Romeo is about 69.6%.
Romeo's vacancy rate, including seasonal lodging, is about 4.8%.
Average household size is 2.4 people.
The majority of houses, apartments or condos in Romeo were built after 1957.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.50% |
| One Bedroom | 13.80% |
| Two Bedrooms | 31.20% |
| Three Bedrooms | 41.10% |
| Four Bedrooms | 11.90% |
| Five Bedrooms or more | 1.40% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.68 |
| Median year structure was built | 1952 |
| Median Value of occupied units | $151,600 |
| Median Price asked for vacant units | $112,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.74 |
| Median year structure was built | 1972 |
| Median Monthly Rent asked for vacant units | $575 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.70% |
| Second Mortgage | 6% |
| Home Equity Loan | 14.40% |
| Simple Mortgage | 49.30% |
| Debt Free | 29.60% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 19.6% |
