Madison Heights, MI Real Estate
According to census data in the year 2000 there were 13,623 housing units in Madison Heights.
This represents a 3% growth from 13,220 in 1990.
Of those housing units, 13,623 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Madison Heights is about 70.1%.
Madison Heights's vacancy rate, including seasonal lodging, is about 2.4%.
Average household size is 2.33 people.
The majority of houses, apartments or condos in Madison Heights were built after 1960.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.70% |
| One Bedroom | 18.50% |
| Two Bedrooms | 25.70% |
| Three Bedrooms | 45.60% |
| Four Bedrooms | 6.60% |
| Five Bedrooms or more | 0.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.46 |
| Median year structure was built | 1957 |
| Median Value of occupied units | $110,600 |
| Median Price asked for vacant units | $91,900 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.02 |
| Median year structure was built | 1969 |
| Median Monthly Rent asked for vacant units | $546 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.20% |
| Second Mortgage | 7.10% |
| Home Equity Loan | 11.90% |
| Simple Mortgage | 51.90% |
| Debt Free | 28.80% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.8% |
