South Monroe, MI Real Estate
According to census data in the year 2000 there were 2,663 housing units in South Monroe.
This represents a 27.6% growth from 2,087 in 1990.
Of those housing units, 2,652 were located in either urbanized areas or urban clusters, and 11 were located in what is classified as a rural area.
Homeownership rate in South Monroe is about 71.4%.
South Monroe's vacancy rate, including seasonal lodging, is about 4%.
Average household size is 2.38 people.
The majority of houses, apartments or condos in South Monroe were built after 1975.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.50% |
| One Bedroom | 13.20% |
| Two Bedrooms | 28.80% |
| Three Bedrooms | 46.10% |
| Four Bedrooms | 9.60% |
| Five Bedrooms or more | 1.80% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.43 |
| Median year structure was built | 1973 |
| Median Value of occupied units | $121,500 |
| Median Price asked for vacant units | $110,200 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.25 |
| Median year structure was built | 1976 |
| Median Monthly Rent asked for vacant units | $466 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.40% |
| Second Mortgage | 3.10% |
| Home Equity Loan | 11.20% |
| Simple Mortgage | 46.50% |
| Debt Free | 38.80% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.1% |
