Housing costs in Royal Oak?
A typical home costs
$281,800, which is 16.7% less expensive than the national average of
$338,100 and 28.9% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Royal Oak costs
$1,480 per month, which is 3.5% more than the national average of
$1,430 and 25.7% more than the state average of
$1,100.
Can I afford Royal Oak?
To live comfortably in Royal Oak, Michigan, a minimum annual income of
$54,000 for a family, and
$46,800 for a single person is recommended.
What does A.I. say about Royal Oak?
The cost of living in Royal Oak, MI is slightly higher than the US average. At 101.6 on the Cost of Living Index, it is 1.6 points higher than the national average. This reflects in the median home value for Royal Oak being $281,800 which is significantly lower than the US average median home value of $338,100. This indicates that although housing costs are below the national average in Royal Oak, other costs of living can still be expensive, however not prohibitively so.