Housing costs in Chelsea?
A typical home costs
$329,300, which is 2.6% less expensive than the national average of
$338,100 and 50.6% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Chelsea costs
$1,450 per month, which is 31.8% more than the national average of
$1,100 and 4.8% more than the state average of
$1,380.
Can I afford Chelsea?
To live comfortably in Chelsea (zip 48118), Michigan, a minimum annual income of
$63,000 for a family, and
$48,400 for a single person is recommended.
What does A.I. say about Chelsea?
Living in 48118 Chelsea, MI is surprisingly affordable. According to the BestPlaces Bureau's 2019 American Community Survey, the median home value is about $252,000, which is significantly lower than the national average of $276,000. Additionally, the median household income for this zip code is roughly $61,700; while this figure is slightly higher than the national average of $62,000, it still reflects the affordability of living in Chelsea. Furthermore, the cost of living index for Chelsea is 99.6 – just below the national average – so residents benefit from a relatively low cost of living throughout the area.