The 2000 Census indicates that Michigan has a total of 3,785,661 occupied homes. 2,269,175 of these homes are occupied by the owner. 5,989 have a property value of $1,000,000 or more, or 0.3 percent. 27,642 homes are valued at $500,000 to $999,999, or 1.2 percent 104,079 are priced from $300,000 to $499,999, or 4.6 percent. 252,044 have a real estate value of $200,000 to $299,999, or 11.1 percent. The are 339,716 residences in the $150,000 to $199,000 price range, or 15.0 percent. 603,454 home owners in Michigan have homes valued from $100,000 to $149,999 (26.6 percent). The number of homes in the $50,000 to $99,999 price range is 711,648, or 31.4 percent. There are 224,603 properties priced at less than $50,000, or 9.9 percent.
In Michigan, 1,580,828 or 69.7 percent of home owners have a mortgage. The median monthly mortgage payment is $972. 688,347, or 30.3 percent of home owners have no mortgage.
Michigan has a total of 976,313 occupied rental units. The median rent per month is $546.
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