Richmond, MI Real Estate
According to census data in the year 2000 there were 2,061 housing units in Richmond.
This represents a 24% growth from 1,662 in 1990.
Of those housing units, 2,061 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Richmond is about 71.7%.
Richmond's vacancy rate, including seasonal lodging, is about 4.1%.
Average household size is 2.45 people.
The majority of houses, apartments or condos in Richmond were built after 1972.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.10% |
| One Bedroom | 12.70% |
| Two Bedrooms | 31.30% |
| Three Bedrooms | 39.20% |
| Four Bedrooms | 14.80% |
| Five Bedrooms or more | 0.90% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.56 |
| Median year structure was built | 1973 |
| Median Value of occupied units | $135,300 |
| Median Price asked for vacant units | $202,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.19 |
| Median year structure was built | 1972 |
| Median Monthly Rent asked for vacant units | $575 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.60% |
| Second Mortgage | 5.60% |
| Home Equity Loan | 14.30% |
| Simple Mortgage | 53.50% |
| Debt Free | 26% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 20.7% |
