Housing costs in Ann Arbor?
A typical home costs
$454,400, which is 34.4% more expensive than the national average of
$338,100 and 107.8% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Ann Arbor costs
$1,680 per month, which is 52.7% more than the national average of
$1,100 and 17.9% more than the state average of
$1,380.
Can I afford Ann Arbor?
To live comfortably in Ann Arbor (zip 48105), Michigan, a minimum annual income of
$87,120 for a family, and
$56,000 for a single person is recommended.
What does A.I. say about Ann Arbor?
The cost of living in 48105 Ann Arbor, MI is quite high. According to BestPlaces, the cost of living index for this area is around 107 points, which is over 7 points higher than the US average. This means that basic commodities such as groceries, utilities and transportation are more expensive than other parts of the country. Additionally, housing costs are particularly steep - according to Zillow, the median home value here is over $300,000. Renters might find some relief in one-bedroom apartments at about $1,100 per month on average. All in all, 48105 Ann Arbor residents should plan for a hefty budget if they want to live comfortably in this city.