Housing costs in Dearborn?
A typical home costs
$184,300, which is 45.5% less expensive than the national average of
$338,100 and 15.7% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Dearborn costs
$1,190 per month, which is 8.2% more than the national average of
$1,100 and 2.5% cheaper than the state average of
$1,220.
Can I afford Dearborn?
To live comfortably in Dearborn (zip 48126), Michigan, a minimum annual income of
$35,280 for a family, and
$37,200 for a single person is recommended.
What does A.I. say about Dearborn?
The cost of living in 48126 Dearborn, MI is relatively affordable compared to other parts of the country. According to BestPlaces, the cost of living index for Dearborn is 88.86, which is lower than the U.S. average cost of living index at 100.0. Housing expenses are also lower than average, with median rent prices coming in at around $950 per month for a one-bedroom apartment and around $1,200 per month for a three-bedroom apartment. Food and entertainment expenses are also quite reasonable in Dearborn as a variety of restaurants and stores offer competitive pricing. All in all, those looking to live in an affordable area should consider relocating to 48126 Dearborn, MI.