Housing costs in Detroit?
A typical home costs
$52,600, which is 84.4% less expensive than the national average of
$338,100 and 75.9% 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 48238), 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 48238 Detroit, MI is relatively low compared to other major cities. The median home value in 48238 is $44,900, according to Zillow, which is much more affordable than the median home value across the nation. Additionally, the cost of groceries and health care remain lower than the national average. Renters benefit from a low average rent of $902 per month for a one-bedroom apartment. Overall, living in 48238 Detroit makes it an attractive option for those looking for an affordable place to live.