Housing costs in Madison Heights?
A typical home costs
$193,500, which is 42.8% less expensive than the national average of
$338,100 and 11.5% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Madison Heights costs
$1,200 per month, which is 9.1% more than the national average of
$1,100 and close to the state average of
$1,220.
Can I afford Madison Heights?
To live comfortably in Madison Heights (zip 48071), Michigan, a minimum annual income of
$37,080 for a family, and
$38,000 for a single person is recommended.
What does A.I. say about Madison Heights?
The cost of living in 48071 Madison Heights, MI is relatively affordable when compared to other parts of the state. The median home cost in this zip code is $125,700, which is much lower than the median for Michigan as a whole. Additionally, transportation costs are low due to the fact that most amenities are within walking distance and the public transit system is easily accessible. Grocery prices tend to be on par with state averages, while utilities are slightly higher due to the colder climate. All in all, 48071 Madison Heights, MI offers an affordable cost of living that can meet the needs of many different types of households.