Housing costs in Dearborn?
A typical home costs
$216,000, which is 36.1% less expensive than the national average of
$338,100 and 1.2% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Dearborn costs
$1,460 per month, which is 32.7% more than the national average of
$1,100 and 16.4% more than the state average of
$1,220.
Can I afford Dearborn?
To live comfortably in Dearborn (zip 48120), Michigan, a minimum annual income of
$41,400 for a family, and
$46,000 for a single person is recommended.
What does A.I. say about Dearborn?
The cost of living in 48120 Dearborn, MI is generally considered to be lower than the national average. This has led to the city being a popular destination for those looking for affordable housing options. The median home value is $128,800 compared to the national median of $184,700 and rent prices in the area are also relatively low, with the average two-bedroom apartment costing around $826 per month. Grocery costs are slightly higher than those found in other cities but overall are still considered to be reasonable. While the cost of living may not be as cheap as some other cities, Dearborn offers great value for money and a great quality of life for its residents.