Norway, MI Real Estate
According to census data in the year 2000 there were 1,394 housing units in Norway.
This represents a 6.3% growth from 1,311 in 1990.
Of those housing units, 1,081 were located in either urbanized areas or urban clusters, and 313 were located in what is classified as a rural area.
Homeownership rate in Norway is about 75.7%.
Norway's vacancy rate, including seasonal lodging, is about 7.2%.
Average household size is 2.32 people.
The majority of houses, apartments or condos in Norway were built after 1943.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.10% |
| One Bedroom | 9.30% |
| Two Bedrooms | 29.30% |
| Three Bedrooms | 47.70% |
| Four Bedrooms | 12% |
| Five Bedrooms or more | 1.60% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.38 |
| Median year structure was built | 1940 |
| Median Value of occupied units | $53,800 |
| Median Price asked for vacant units | $46,700 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.11 |
| Median year structure was built | 1953 |
| Median Monthly Rent asked for vacant units | $331 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 3.90% |
| Home Equity Loan | 3.90% |
| Simple Mortgage | 44% |
| Debt Free | 48.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.5% |
