Housing costs in Detroit?
A typical home costs
$49,600, which is 85.3% less expensive than the national average of
$338,100 and 77.3% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,010 per month, which is 8.2% cheaper than the national average of
$1,100 and 20.8% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48204), Michigan, a minimum annual income of
$9,360 for a family, and
$31,600 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in Detroit, MI 48204 is relatively affordable compared to many other cities. According to Sperling's Best Places, the overall cost of living index for the area is slightly below the national average. Housing costs such as rent, mortgage payments, and utilities are all lower than the U.S. average. Grocery and restaurant prices are also below the national average, helping people stretch their budgets further in this city. Overall, Detroit is an affordable place to live for those looking for a reasonably priced place to call home.