Housing costs in Royal Oak?
A typical home costs
$307,700, which is 9.0% less expensive than the national average of
$338,100 and 40.7% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Royal Oak costs
$1,690 per month, which is 53.6% more than the national average of
$1,100 and 27.8% more than the state average of
$1,220.
Can I afford Royal Oak?
To live comfortably in Royal Oak (zip 48067), Michigan, a minimum annual income of
$59,040 for a family, and
$52,800 for a single person is recommended.
What does A.I. say about Royal Oak?
The cost of living in 48067 Royal Oak, MI is relatively high compared to other cities. With the median home prices at $165,400 and the average rent price for a two-bedroom apartment at $1,620 per month, the cost of living is significantly higher than the national average. Additionally, food costs and transportation expenses are also higher than the national averages. Royal Oak offers some of the best amenities and services available that help to offset these costs, making it an attractive place to live despite its higher cost of living.