Lake City, MI Real Estate
According to census data in the year 2000 there were 497 housing units in Lake City.
This represents a 1.6% decline from 505 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 497 were located in what is classified as a rural area.
Homeownership rate in Lake City is about 73.3%.
Lake City's vacancy rate, including seasonal lodging, is about 21.5%.
Average household size is 2.29 people.
The majority of houses, apartments or condos in Lake City were built after 1956.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 11.90% |
| Two Bedrooms | 30.40% |
| Three Bedrooms | 38.80% |
| Four Bedrooms | 14.70% |
| Five Bedrooms or more | 3.40% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.27 |
| Median year structure was built | 1956 |
| Median Value of occupied units | $72,100 |
| Median Price asked for vacant units | $52,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.35 |
| Median year structure was built | 1958 |
| Median Monthly Rent asked for vacant units | $450 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 1.60% |
| Home Equity Loan | 5.40% |
| Simple Mortgage | 41.20% |
| Debt Free | 51.80% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.6% |
