Detroit, MI Real Estate
According to census data in the year 2000 there were 375,096 housing units in Detroit.
This represents a 8.5% decline from 410,027 in 1990.
Of those housing units, 375,096 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Detroit is about 54.9%.
Detroit's vacancy rate, including seasonal lodging, is about 10.3%.
Average household size is 2.77 people.
The majority of houses, apartments or condos in Detroit were built after 1948.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 3% |
| One Bedroom | 13.60% |
| Two Bedrooms | 29.60% |
| Three Bedrooms | 40.70% |
| Four Bedrooms | 10.20% |
| Five Bedrooms or more | 2.90% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.87 |
| Median year structure was built | 1946 |
| Median Value of occupied units | $63,600 |
| Median Price asked for vacant units | $55,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.65 |
| Median year structure was built | 1950 |
| Median Monthly Rent asked for vacant units | $370 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 5.70% |
| Home Equity Loan | 7% |
| Simple Mortgage | 49.90% |
| Debt Free | 37.10% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.7% |
