Housing costs in Royal Oak?
A typical home costs
$272,100, which is 19.5% less expensive than the national average of
$338,100 and 24.4% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Royal Oak costs
$1,390 per month, which is 26.4% more than the national average of
$1,100 and 12.2% more than the state average of
$1,220.
Can I afford Royal Oak?
To live comfortably in Royal Oak (zip 48073), Michigan, a minimum annual income of
$52,200 for a family, and
$43,600 for a single person is recommended.
What does A.I. say about Royal Oak?
The cost of living in 48073 Royal Oak, MI is quite reasonable, with median home prices in the area averaging around $170,000. The city also has a low unemployment rate and boasts an average household income of $58,463. Renters are likely to find good deals on apartments as well, with most one-bedroom units costing just under $1,000 per month. In addition, food and entertainment costs tend to be reasonable and the city has plenty of shopping options available at local stores and malls. The overall cost of living in 48073 Royal Oak is slightly below the national average which makes it a great destination for those looking for an affordable lifestyle with plenty of amenities.