Housing costs in Detroit?
A typical home costs
$65,300, which is 80.7% less expensive than the national average of
$338,100 and 70.1% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,000 per month, which is 9.1% cheaper than the national average of
$1,100 and 22.0% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48209), Michigan, a minimum annual income of
$12,600 for a family, and
$31,200 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in Detroit, MI's 48209 zip code is relatively low compared to other areas in the country. According to BestPlaces's Cost of Living Index, Detroit is ranked as #19 out of 230 for affordability. Housing costs and food expenses are particularly low in this area, with a one-bedroom apartment costing an average of just $644 per month and groceries coming in at around $348 monthly. Utility costs are also very reasonable, as the combined cost for water, electricity and gas typically comes to around $152 per month. All in all, Detroit's 48209 zip code offers a great opportunity for those looking to live on a budget without sacrificing quality of life.