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Milan, IN Real Estate


According to census data in the year 2000 there were 761 housing units in Milan. This represents a 28.1% growth from 594 in 1990.

Of those housing units, none were located in either urbanized areas or urban clusters, and 761 were located in what is classified as a rural area.

Homeownership rate in Milan is about 64.6%. Milan's vacancy rate, including seasonal lodging, is about 8.4%. Average household size is 2.54 people.

The majority of houses, apartments or condos in Milan were built after 1962.

Statistics

Housing Size

Housing Units by Size
Studio Type0.70%
One Bedroom10.90%
Two Bedrooms40.20%
Three Bedrooms38.60%
Four Bedrooms8.90%
Five Bedrooms or more0.70%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.77
Median year structure was built1958
Median Value of occupied units$78,200
Median Price asked for vacant units$82,800

Rented Homes, Apartments and Condos

Average Household Size2.12
Median year structure was built1975
Median Monthly Rent asked for vacant units$467

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage5.50%
Home Equity Loan5.50%
Simple Mortgage54.30%
Debt Free34.70%
As % of Housing Units
       
Median part of Monthly Household Income dedicated to covering home ownership costs15.8%