Lake Orion, MI Real Estate
According to census data in the year 2000 there were 1,319 housing units in Lake Orion.
This represents a 2.7% decline from 1,355 in 1990.
Of those housing units, 1,319 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Lake Orion is about 57.4%.
Lake Orion's vacancy rate, including seasonal lodging, is about 9.6%.
Average household size is 2.19 people.
The majority of houses, apartments or condos in Lake Orion were built after 1952.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 4.30% |
| One Bedroom | 21% |
| Two Bedrooms | 20.10% |
| Three Bedrooms | 39.50% |
| Four Bedrooms | 12.50% |
| Five Bedrooms or more | 2.60% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.74 |
| Median year structure was built | 1944 |
| Median Value of occupied units | $164,600 |
| Median Price asked for vacant units | $153,400 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.45 |
| Median year structure was built | 1960 |
| Median Monthly Rent asked for vacant units | $454 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 7.40% |
| Home Equity Loan | 11.20% |
| Simple Mortgage | 70.10% |
| Debt Free | 11.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 19.7% |
