Housing costs in Detroit?
A typical home costs
$164,800, which is 51.3% less expensive than the national average of
$338,100 and 24.6% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,120 per month, which is 1.8% more than the national average of
$1,100 and 8.9% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48233), Michigan, a minimum annual income of
$31,680 for a family, and
$35,200 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48233 Detroit, MI is relatively high compared to other parts of the state. The median home price is around $142,300, which is well above the national average and more expensive than the median home prices in several nearby cities. Additionally, rental prices are also on the higher side with single bedroom apartments averaging around $800 a month. Utilities such as electricity and gas can be quite expensive too due to Detroit's harsh climate. Groceries and other goods generally tend to be slightly more expensive than the national average as well. All in all, living in 48233 Detroit, MI certainly comes with a higher cost of living than many other places.