Milan, TN Real Estate
According to census data in the year 2000 there were 3,441 housing units in Milan.
This represents a 4.3% growth from 3,300 in 1990.
Of those housing units, 3,259 were located in either urbanized areas or urban clusters, and 182 were located in what is classified as a rural area.
Homeownership rate in Milan is about 62.6%.
Milan's vacancy rate, including seasonal lodging, is about 7.2%.
Average household size is 2.28 people.
The majority of houses, apartments or condos in Milan were built after 1965.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.90% |
| One Bedroom | 7.30% |
| Two Bedrooms | 36.20% |
| Three Bedrooms | 43.20% |
| Four Bedrooms | 11% |
| Five Bedrooms or more | 1.40% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.2 |
| Median year structure was built | 1965 |
| Median Value of occupied units | $67,700 |
| Median Price asked for vacant units | $21,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.41 |
| Median year structure was built | 1966 |
| Median Monthly Rent asked for vacant units | $264 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 5.50% |
| Home Equity Loan | 5.10% |
| Simple Mortgage | 41% |
| Debt Free | 48.50% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.3% |
