Detroit Lakes, MN Real Estate
According to census data in the year 2000 there were 3,797 housing units in Detroit Lakes.
This represents a 12.5% growth from 3,375 in 1990.
Of those housing units, 3,645 were located in either urbanized areas or urban clusters, and 152 were located in what is classified as a rural area.
Homeownership rate in Detroit Lakes is about 64.8%.
Detroit Lakes's vacancy rate, including seasonal lodging, is about 12.3%.
Average household size is 2.14 people.
The majority of houses, apartments or condos in Detroit Lakes were built after 1961.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.20% |
| One Bedroom | 17.90% |
| Two Bedrooms | 30.20% |
| Three Bedrooms | 32.40% |
| Four Bedrooms | 13.80% |
| Five Bedrooms or more | 3.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.41 |
| Median year structure was built | 1956 |
| Median Value of occupied units | $83,400 |
| Median Price asked for vacant units | $131,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.65 |
| Median year structure was built | 1972 |
| Median Monthly Rent asked for vacant units | $374 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 5.70% |
| Home Equity Loan | 6.10% |
| Simple Mortgage | 51.30% |
| Debt Free | 36.90% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17% |
