Housing costs in Madison Heights?
A typical home costs
$193,600, which is 42.7% less expensive than the national average of
$338,100 and 11.5% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Madison Heights costs
$1,190 per month, which is 16.8% cheaper than the national average of
$1,430 and 7.6% more than the state average of
$1,100.
Can I afford Madison Heights?
To live comfortably in Madison Heights, Michigan, a minimum annual income of
$37,080 for a family, and
$37,200 for a single person is recommended.
What does A.I. say about Madison Heights?
The cost of living in Madison Heights, MI is relatively affordable. The median home value in the city is $97,200 and the median household income is just over $52,000. Additionally, monthly rent for a one-bedroom apartment averages around $660, while a three-bedroom apartment averages around $1,000. Groceries and utility costs are also reasonable compared to other cities. In all, Madison Heights offers an affordable cost of living that makes it attractive to those looking to live in the area.