Housing costs in Detroit?
A typical home costs
$132,100, which is 60.9% less expensive than the national average of
$338,100 and 39.6% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,020 per month, which is 7.3% cheaper than the national average of
$1,100 and 19.6% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48208), Michigan, a minimum annual income of
$25,200 for a family, and
$32,000 for a single person is recommended.
What does A.I. say about Detroit?
In 48208 Detroit, MI the cost of living is relatively affordable compared to other cities in the United States. The median household income is $27,506 and the median home value is $42,200. Rent for an average one-bedroom apartment can range from as low as $650 per month and up to around $1,500 per month. Groceries are also quite affordable with many grocery stores carrying fresh produce and a variety of different items at reasonable prices. Public transportation such as buses and trains are available throughout the city making getting around easy and convenient. All in all, 48208 Detroit, MI offers a good balance between affordability and convenience which makes it an attractive place to live.