Housing costs in Detroit?
A typical home costs
$296,000, which is 12.5% less expensive than the national average of
$338,100 and 35.3% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,860 per month, which is 69.1% more than the national average of
$1,100 and 34.4% more than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48226), Michigan, a minimum annual income of
$56,880 for a family, and
$58,400 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48226 Detroit, MI is relatively low compared to other parts of the country. Groceries and utilities are slightly higher than the national average, but transportation and health care costs are much lower. Rent prices vary greatly depending on location and size of property but overall tend to be lower than the US average. The median household income in this ZIP code is $33,867 per year, which is significantly lower than the national median of $61,937 per year. This makes it a great option for individuals or families who want to save money while still enjoying all that Detroit has to offer.