Otsego, MI Real Estate
According to census data in the year 2000 there were 1,640 housing units in Otsego.
This represents a 5.1% growth from 1,561 in 1990.
Of those housing units, 1,582 were located in either urbanized areas or urban clusters, and 58 were located in what is classified as a rural area.
Homeownership rate in Otsego is about 68.7%.
Otsego's vacancy rate, including seasonal lodging, is about 5.1%.
Average household size is 2.47 people.
The majority of houses, apartments or condos in Otsego were built after 1948.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.40% |
| One Bedroom | 12.20% |
| Two Bedrooms | 32.30% |
| Three Bedrooms | 42.70% |
| Four Bedrooms | 9.70% |
| Five Bedrooms or more | 2.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.66 |
| Median year structure was built | 1942 |
| Median Value of occupied units | $88,200 |
| Median Price asked for vacant units | $42,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.04 |
| Median year structure was built | 1969 |
| Median Monthly Rent asked for vacant units | $427 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 8.40% |
| Home Equity Loan | 8.90% |
| Simple Mortgage | 51.90% |
| Debt Free | 30.80% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.9% |
