Housing costs in Ferndale?
A typical home costs
$213,100, which is 37.0% less expensive than the national average of
$338,100 and 2.6% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Ferndale costs
$1,250 per month, which is 13.6% more than the national average of
$1,100 and 2.4% more than the state average of
$1,220.
Can I afford Ferndale?
To live comfortably in Ferndale (zip 48220), Michigan, a minimum annual income of
$40,680 for a family, and
$39,200 for a single person is recommended.
What does A.I. say about Ferndale?
The cost of living in 48220 Ferndale, MI is slightly higher than the national average but still remains affordable. According to BestPlaces, the cost of living index for Ferndale is 97, which is 3 points lower than the U.S. average of 100. This means that basic expenses such as groceries and healthcare are slightly more expensive than the national average but remain manageable. The median home price in Ferndale is $179,900 and rent averages around $1,050 per month. Overall, Ferndale is an affordable place to live with plenty of amenities nearby.