Housing costs in Ann Arbor?
A typical home costs
$420,000, which is 24.2% more expensive than the national average of
$338,100 and 92.0% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Ann Arbor costs
$1,630 per month, which is 48.2% more than the national average of
$1,100 and 15.3% more than the state average of
$1,380.
Can I afford Ann Arbor?
To live comfortably in Ann Arbor (zip 48109), Michigan, a minimum annual income of
$80,640 for a family, and
$54,400 for a single person is recommended.
What does A.I. say about Ann Arbor?
The cost of living in 48109 Ann Arbor, MI is relatively high compared to other parts of the United States. The median home value for this zip code sits at $310,000 while the median rent is around $1,400 per month. Grocery and other basic needs are a bit more expensive than what you would find in other parts of the country as well. Also, with the presence of two large universities, prices on entertainment and recreation can be higher as well. Despite these higher costs, many people find that living in Ann Arbor provides them with a good quality lifestyle and is worth the additional expense.