Milan, IL Real Estate
According to census data in the year 2000 there were 2,379 housing units in Milan.
This represents a 2% decline from 2,427 in 1990.
Of those housing units, 2,351 were located in either urbanized areas or urban clusters, and 28 were located in what is classified as a rural area.
Homeownership rate in Milan is about 68.5%.
Milan's vacancy rate, including seasonal lodging, is about 2.8%.
Average household size is 2.29 people.
The majority of houses, apartments or condos in Milan were built after 1966.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.50% |
| One Bedroom | 14.40% |
| Two Bedrooms | 36.30% |
| Three Bedrooms | 39.60% |
| Four Bedrooms | 8% |
| Five Bedrooms or more | 1.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.53 |
| Median year structure was built | 1965 |
| Median Value of occupied units | $70,700 |
| Median Price asked for vacant units | $65,400 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.77 |
| Median year structure was built | 1968 |
| Median Monthly Rent asked for vacant units | $394 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 1.10% |
| Second Mortgage | 5.60% |
| Home Equity Loan | 6.90% |
| Simple Mortgage | 54.10% |
| Debt Free | 32.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15% |
