Melvin, MI Real Estate
According to census data in the year 2000 there were 76 housing units in Melvin.
This represents a 16.9% growth from 65 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 76 were located in what is classified as a rural area.
Homeownership rate in Melvin is about 90.5%.
Melvin's vacancy rate, including seasonal lodging, is about 17.1%.
Average household size is 2.17 people.
The majority of houses, apartments or condos in Melvin were built after 1952.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.60% |
| One Bedroom | 3.90% |
| Two Bedrooms | 26.30% |
| Three Bedrooms | 51.30% |
| Four Bedrooms | 13.20% |
| Five Bedrooms or more | 2.60% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.26 |
| Median year structure was built | 1954 |
| Median Value of occupied units | $72,500 |
| Median Price asked for vacant units | $77,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.33 |
| Median year structure was built | 1939 |
| Median Monthly Rent asked for vacant units | $394 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 0% |
| Home Equity Loan | 14.60% |
| Simple Mortgage | 34.10% |
| Debt Free | 51.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 13.8% |
