Housing costs in Highland Park?
A typical home costs
$66,600, which is 80.3% less expensive than the national average of
$338,100 and 69.5% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Highland Park costs
$980 per month, which is 31.5% cheaper than the national average of
$1,430 and 12.2% cheaper than the state average of
$1,100.
Can I afford Highland Park?
To live comfortably in Highland Park, Michigan, a minimum annual income of
$12,600 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Highland Park?
The cost of living in Highland Park, MI is slightly higher than the national average. The median home value in Highland Park is around $58,000, which is slightly higher than the Michigan state median of $54,000. The median household income in Highland Park is also slightly higher than the Michigan average at $37,000 per year. The cost of living index in Highland Park is 104.5, meaning that it's 4.5% more expensive to live there than the national average. Rent prices are below the national average at an estimated $743 for a one-bedroom apartment; however, utilities tend to be more expensive due to the cold winters and high demand for energy sources like electricity and natural gas. Despite this additional expense, overall the cost of living in Highland Park remains lower than many other Michigan cities.