Housing costs in Ann Arbor?
A typical home costs
$464,400, which is 37.4% more expensive than the national average of
$338,100 and 112.3% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Ann Arbor costs
$1,620 per month, which is 47.3% more than the national average of
$1,100 and 14.8% more than the state average of
$1,380.
Can I afford Ann Arbor?
To live comfortably in Ann Arbor (zip 48104), Michigan, a minimum annual income of
$88,920 for a family, and
$54,000 for a single person is recommended.
What does A.I. say about Ann Arbor?
Ann Arbor, MI, is an expensive city to live in. The cost of living index for 48104 Ann Arbor, MI is 119.7, which is 19.7% higher than the national average. While housing costs are a major factor in this figure, other expenses such as utilities and transportation can also be high. Cost of groceries and health care are comparable to the national average; however, taxes can add significantly to the cost of living in Ann Arbor. Overall, it is important to consider all factors when determining whether or not Ann Arbor is an affordable place to live.