Housing costs in Dearborn?
A typical home costs
$187,300, which is 44.6% less expensive than the national average of
$338,100 and 14.4% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Dearborn costs
$1,310 per month, which is 19.1% more than the national average of
$1,100 and 6.9% more than the state average of
$1,220.
Can I afford Dearborn?
To live comfortably in Dearborn (zip 48124), Michigan, a minimum annual income of
$36,000 for a family, and
$41,200 for a single person is recommended.
What does A.I. say about Dearborn?
The cost of living in 48124 Dearborn, MI is relatively low compared to the rest of the United States. The overall cost of living index is 86.2, which is 14.8% lower than the national average. Housing costs are especially attractive for those looking to move to Dearborn, with median home values coming in at around $90,000 and median rents being around $800 a month. Transportation costs are also very low, as public transportation is extensive and affordable while gas prices remain fairly cheap as well. In addition, groceries and healthcare costs are lower than the national average, making living in Dearborn a great option for those on a budget.