Buchanan, MI Real Estate
According to census data in the year 2000 there were 2,132 housing units in Buchanan.
This represents a 0.7% growth from 2,117 in 1990.
Of those housing units, 2,132 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Buchanan is about 62.8%.
Buchanan's vacancy rate, including seasonal lodging, is about 6.4%.
Average household size is 2.44 people.
The majority of houses, apartments or condos in Buchanan were built after 1953.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.40% |
| One Bedroom | 17.70% |
| Two Bedrooms | 32.80% |
| Three Bedrooms | 30.60% |
| Four Bedrooms | 14.30% |
| Five Bedrooms or more | 3.10% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.77 |
| Median year structure was built | 1944 |
| Median Value of occupied units | $69,300 |
| Median Price asked for vacant units | $68,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.86 |
| Median year structure was built | 1971 |
| Median Monthly Rent asked for vacant units | $396 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 5.40% |
| Home Equity Loan | 13% |
| Simple Mortgage | 60.20% |
| Debt Free | 21.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.6% |
