Farwell, MI Real Estate
According to census data in the year 2000 there were 406 housing units in Farwell.
This represents a 11.8% growth from 363 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 406 were located in what is classified as a rural area.
Homeownership rate in Farwell is about 66.9%.
Farwell's vacancy rate, including seasonal lodging, is about 6.9%.
Average household size is 2.27 people.
The majority of houses, apartments or condos in Farwell were built after 1970.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.70% |
| One Bedroom | 16.70% |
| Two Bedrooms | 29.60% |
| Three Bedrooms | 41.90% |
| Four Bedrooms | 10.30% |
| Five Bedrooms or more | 0.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.43 |
| Median year structure was built | 1965 |
| Median Value of occupied units | $63,300 |
| Median Price asked for vacant units | $68,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.95 |
| Median year structure was built | 1974 |
| Median Monthly Rent asked for vacant units | $250 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 0% |
| Home Equity Loan | 2.40% |
| Simple Mortgage | 61% |
| Debt Free | 36.60% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.6% |
