Housing costs in Ferndale?
A typical home costs
$214,700, which is 36.5% less expensive than the national average of
$338,100 and 1.8% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Ferndale costs
$1,290 per month, which is 9.8% cheaper than the national average of
$1,430 and 14.7% more than the state average of
$1,100.
Can I afford Ferndale?
To live comfortably in Ferndale, Michigan, a minimum annual income of
$41,040 for a family, and
$40,400 for a single person is recommended.
What does A.I. say about Ferndale?
The cost of living in Ferndale, MI is below the national average in most areas. There are a variety of housing options available for those looking to move to this city, ranging from affordable apartments and single-family homes to luxury condos and townhomes. The median home price in Ferndale is $152,400, which is significantly lower than the national average. Additionally, there are numerous dining options in the area that are accessible on a budget. Grocery costs are also relatively low compared to many other cities. With an overall cost of living index of 92.8%, Ferndale offers an affordable place to live for those who call this city home.