Spring Arbor, MI Real Estate
According to census data in the year 2000 there were 713 housing units in Spring Arbor.
This represents a 7.9% growth from 661 in 1990.
Of those housing units, 664 were located in either urbanized areas or urban clusters, and 49 were located in what is classified as a rural area.
Homeownership rate in Spring Arbor is about 58.8%.
Spring Arbor's vacancy rate, including seasonal lodging, is about 5.5%.
Average household size is 2.26 people.
The majority of houses, apartments or condos in Spring Arbor were built after 1971.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.40% |
| One Bedroom | 15.70% |
| Two Bedrooms | 35.20% |
| Three Bedrooms | 24.40% |
| Four Bedrooms | 19.50% |
| Five Bedrooms or more | 3.80% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.74 |
| Median year structure was built | 1966 |
| Median Value of occupied units | $131,100 |
| Median Price asked for vacant units | $55,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.58 |
| Median year structure was built | 1976 |
| Median Monthly Rent asked for vacant units | $325 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 3.40% |
| Home Equity Loan | 12.20% |
| Simple Mortgage | 58% |
| Debt Free | 26.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.5% |
