Housing costs in Detroit?
A typical home costs
$52,100, which is 84.6% less expensive than the national average of
$338,100 and 76.2% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,040 per month, which is 5.5% cheaper than the national average of
$1,100 and 17.3% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48234), Michigan, a minimum annual income of
$10,080 for a family, and
$32,400 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48234 Detroit, MI is generally quite affordable. Housing prices are relatively low, with the median price of a single-family home being around $114,000. Goods and services such as groceries, clothing, and entertainment also tend to be quite affordable. Additionally, gas prices are typically lower than the national average. All in all, 48234 Detroit boasts an excellent value when it comes to cost of living.