Housing costs in Royal Oak charter?
A typical home costs
$108,400, which is 67.9% less expensive than the national average of
$338,100 and 50.4% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Royal Oak charter 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 Royal Oak charter?
To live comfortably in Royal Oak charter, Michigan, a minimum annual income of
$20,880 for a family, and
$40,400 for a single person is recommended.
What does A.I. say about Royal Oak charter?
The cost of living in Royal Oak charter township, MI is relatively low compared to other areas of the state and nation. According to the most recent census data, the median household income is slightly above the national average at $76,133. The median home value is $230,103, which is 13% lower than the Michigan average and 11% lower than the national average. Housing costs are generally affordable in Royal Oak Township, with a median rent of $1,298. Other costs such as groceries, healthcare, transportation and utilities are also below the national averages. All these factors combine to create a reasonably priced cost of living for residents of this township.