Housing costs in Detroit?
A typical home costs
$86,800, which is 74.3% less expensive than the national average of
$338,100 and 60.3% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,150 per month, which is 4.5% more than the national average of
$1,100 and 6.1% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48235), Michigan, a minimum annual income of
$16,560 for a family, and
$36,000 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48235 Detroit, MI is lower than the national average. According to BestPlaces, the cost of living index is 79.98 comparative to the US average of 100. This means that many of the basic necessities such as food, clothing, transportation, and housing are significantly more affordable in this area compared to other cities across the country. Housing costs are particularly low - with rent prices almost 40% below the national average - making it an attractive option for those looking for an affordable place to live. Additionally, there are a number of local initiatives that can provide additional support for those struggling with economic hardship.