Housing costs in Detroit?
A typical home costs
$53,800, which is 84.1% less expensive than the national average of
$338,100 and 75.4% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,150 per month, which is 4.5% more than the national average of
$1,100 and 6.1% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48205), Michigan, a minimum annual income of
$10,440 for a family, and
$36,000 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48205 Detroit, MI is quite affordable. The median home cost in the area is $33,300, which is significantly lower than the U.S. median of $227,025. Additionally, the cost of groceries and other necessities are relatively low compared to other parts of the country. Renting a one-bedroom apartment averages around $735 per month while utilities typically run around $150 per month. The overall cost of living in this zip code is much more affordable than many other places in the U.S., making it an attractive option for those looking to relocate to the area on a budget.