South Lyon, MI Real Estate
According to census data in the year 2000 there were 4,467 housing units in South Lyon.
This represents a 79.8% growth from 2,485 in 1990.
Of those housing units, 4,467 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in South Lyon is about 74.7%.
South Lyon's vacancy rate, including seasonal lodging, is about 4.8%.
Average household size is 2.34 people.
The majority of houses, apartments or condos in South Lyon were built after 1982.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.40% |
| One Bedroom | 13.60% |
| Two Bedrooms | 38.90% |
| Three Bedrooms | 33.90% |
| Four Bedrooms | 12.40% |
| Five Bedrooms or more | 0.80% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.51 |
| Median year structure was built | 1985 |
| Median Value of occupied units | $160,400 |
| Median Price asked for vacant units | $187,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.84 |
| Median year structure was built | 1978 |
| Median Monthly Rent asked for vacant units | $817 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 3.30% |
| Home Equity Loan | 12.90% |
| Simple Mortgage | 64.20% |
| Debt Free | 19.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 22.1% |
