Housing costs in Detroit?
A typical home costs
$45,800, which is 86.5% less expensive than the national average of
$338,100 and 79.1% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,160 per month, which is 5.5% more than the national average of
$1,100 and 5.2% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48217), Michigan, a minimum annual income of
$8,640 for a family, and
$36,400 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48217 Detroit, MI varies depending on the neighborhood. According to the most recent data from BestPlaces, the average cost of living for a single person in this zip code is around $1,845 per month. This is slightly higher than the national average which is around $1,800 a month. Housing costs are considered to be affordable in this area with an average one-bedroom apartment renting at around $772 a month. Other basic expenses such as food and transportation can also be relatively low-cost compared to other areas in Michigan and across the country. All in all, while there may be some variation based on neighborhood location and lifestyle preferences, living in 48217 Detroit is generally considered to be fairly affordable.