Memphis, MI Real Estate
According to census data in the year 2000 there were 493 housing units in Memphis.
This represents a 7.4% growth from 459 in 1990.
Of those housing units, none were located in either urbanized areas or urban clusters, and 493 were located in what is classified as a rural area.
Homeownership rate in Memphis is about 63.9%.
Memphis's vacancy rate, including seasonal lodging, is about 4.5%.
Average household size is 2.44 people.
The majority of houses, apartments or condos in Memphis were built after 1958.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 19.70% |
| Two Bedrooms | 26.20% |
| Three Bedrooms | 37.50% |
| Four Bedrooms | 10.10% |
| Five Bedrooms or more | 5.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.9 |
| Median year structure was built | 1955 |
| Median Value of occupied units | $119,200 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.62 |
| Median year structure was built | 1974 |
| Median Monthly Rent asked for vacant units | $331 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 0.80% |
| Home Equity Loan | 17% |
| Simple Mortgage | 52.30% |
| Debt Free | 29.90% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 20% |
