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South Monroe, MI Real Estate


According to census data in the year 2000 there were 2,663 housing units in South Monroe. This represents a 27.6% growth from 2,087 in 1990.

Of those housing units, 2,652 were located in either urbanized areas or urban clusters, and 11 were located in what is classified as a rural area.

Homeownership rate in South Monroe is about 71.4%. South Monroe's vacancy rate, including seasonal lodging, is about 4%. Average household size is 2.38 people.

The majority of houses, apartments or condos in South Monroe were built after 1975.

Statistics

Housing Size

Housing Units by Size
Studio Type0.50%
One Bedroom13.20%
Two Bedrooms28.80%
Three Bedrooms46.10%
Four Bedrooms9.60%
Five Bedrooms or more1.80%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.43
Median year structure was built1973
Median Value of occupied units$121,500
Median Price asked for vacant units$110,200

Rented Homes, Apartments and Condos

Average Household Size2.25
Median year structure was built1976
Median Monthly Rent asked for vacant units$466

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.40%
Second Mortgage3.10%
Home Equity Loan11.20%
Simple Mortgage46.50%
Debt Free38.80%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs15.1%