Housing costs in Farmington Hills?
A typical home costs
$248,200, which is 26.6% less expensive than the national average of
$338,100 and 13.5% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Farmington Hills costs
$1,140 per month, which is 3.6% more than the national average of
$1,100 and 7.0% cheaper than the state average of
$1,220.
Can I afford Farmington Hills?
To live comfortably in Farmington Hills (zip 48336), Michigan, a minimum annual income of
$47,520 for a family, and
$35,600 for a single person is recommended.
What does A.I. say about Farmington Hills?
The cost of living in 48336 Farmington Hills, MI is relatively high. The area is a desirable place to live, and as such the median home value is $269,400 and housing expenses generally take up around 27% of an average resident's income. Groceries, healthcare, and transportation are all slightly more expensive than other areas of Michigan, with overall costs about 7% higher than the national average. Despite this additional cost, Farmington Hills remains a desirable location for many individuals and families due to its safe environment and quality of life amenities.