Milan, NM Real Estate

According to census data in the year 2000 there were 820 housing units in Milan. This represents a 11.6% growth from 735 in 1990.

Of those housing units, 753 were located in either urbanized areas or urban clusters, and 67 were located in what is classified as a rural area.

Homeownership rate in Milan is about 72.4%. Milan's vacancy rate, including seasonal lodging, is about 16.8%. Average household size is 2.8 people.

The majority of houses, apartments or condos in Milan were built after 1976.


Housing Size

Housing Units by Size
Studio Type1.80%
One Bedroom11.10%
Two Bedrooms28.50%
Three Bedrooms51.20%
Four Bedrooms6.80%
Five Bedrooms or more0.50%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.76
Median year structure was built1977
Median Value of occupied units$57,800
Median Price asked for vacant units$50,000

Rented Homes, Apartments and Condos

Average Household Size2.92
Median year structure was built1975
Median Monthly Rent asked for vacant units$246

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage1.20%
Home Equity Loan3.70%
Simple Mortgage42.30%
Debt Free52.80%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs16.4%