Housing costs in Detroit?
A typical home costs
$46,000, which is 86.4% less expensive than the national average of
$338,100 and 79.0% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$970 per month, which is 11.8% cheaper than the national average of
$1,100 and 25.8% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48213), Michigan, a minimum annual income of
$8,640 for a family, and
$30,400 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48213 Detroit, MI is known to be relatively high. According to BestPlaces's Cost of Living Index, the cost of living index in this area is 66.16, which is slightly higher than the national average of 57.47. The rent prices for a one bedroom apartment in this area range from $800 to $1,100 per month, while a three bedroom apartment ranges from $1,000 to $1,400 per month. Groceries and restaurant meals are also expensive in this area, as most items tend to be about 20% higher than the US national average. Although it may seem costly at first glance, the cost of living in this part of Detroit is well worth it for those looking to live near downtown and take advantage of all that the city has to offer.