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.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.80% |
| One Bedroom | 11.10% |
| Two Bedrooms | 28.50% |
| Three Bedrooms | 51.20% |
| Four Bedrooms | 6.80% |
| Five Bedrooms or more | 0.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.76 |
| Median year structure was built | 1977 |
| Median Value of occupied units | $57,800 |
| Median Price asked for vacant units | $50,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.92 |
| Median year structure was built | 1975 |
| Median Monthly Rent asked for vacant units | $246 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 1.20% |
| Home Equity Loan | 3.70% |
| Simple Mortgage | 42.30% |
| Debt Free | 52.80% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.4% |
