Housing costs in Detroit?
A typical home costs
$130,400, which is 61.4% less expensive than the national average of
$338,100 and 40.4% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,070 per month, which is 2.7% cheaper than the national average of
$1,100 and 14.0% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48221), Michigan, a minimum annual income of
$24,840 for a family, and
$33,600 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48221 Detroit, MI is much lower than the national average. According to bestplaces.net, goods and services are about 13% cheaper in Detroit compared to the rest of the country. The median home value is around $45,700 and the median household income is just over $30,000. Rental prices tend to be relatively low at an average of $900 for a one-bedroom apartment. Overall, Detroit offers a great option for individuals or families looking to save money on their cost of living expenses without sacrificing quality amenities or lifestyle.