Elk Rapids, MI Real Estate
According to census data in the year 2000 there were 1,074 housing units in Elk Rapids.
This represents a 13.5% growth from 946 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 1,074 were located in what is classified as a rural area.
Homeownership rate in Elk Rapids is about 72.6%.
Elk Rapids's vacancy rate, including seasonal lodging, is about 28%.
Average household size is 2.19 people.
The majority of houses, apartments or condos in Elk Rapids were built after 1965.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1% |
| One Bedroom | 11.50% |
| Two Bedrooms | 39.20% |
| Three Bedrooms | 35.60% |
| Four Bedrooms | 10.30% |
| Five Bedrooms or more | 2.40% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.24 |
| Median year structure was built | 1962 |
| Median Value of occupied units | $136,900 |
| Median Price asked for vacant units | $165,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.08 |
| Median year structure was built | 1972 |
| Median Monthly Rent asked for vacant units | $333 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 7.80% |
| Home Equity Loan | 8.20% |
| Simple Mortgage | 41.10% |
| Debt Free | 43% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.8% |
