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Milan, IL Real Estate


According to census data in the year 2000 there were 2,379 housing units in Milan. This represents a 2% decline from 2,427 in 1990.

Of those housing units, 2,351 were located in either urbanized areas or urban clusters, and 28 were located in what is classified as a rural area.

Homeownership rate in Milan is about 68.5%. Milan's vacancy rate, including seasonal lodging, is about 2.8%. Average household size is 2.29 people.

The majority of houses, apartments or condos in Milan were built after 1966.

Statistics

Housing Size

Housing Units by Size
Studio Type0.50%
One Bedroom14.40%
Two Bedrooms36.30%
Three Bedrooms39.60%
Four Bedrooms8%
Five Bedrooms or more1.20%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.53
Median year structure was built1965
Median Value of occupied units$70,700
Median Price asked for vacant units$65,400

Rented Homes, Apartments and Condos

Average Household Size1.77
Median year structure was built1968
Median Monthly Rent asked for vacant units$394

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan1.10%
Second Mortgage5.60%
Home Equity Loan6.90%
Simple Mortgage54.10%
Debt Free32.30%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs15%