Housing costs in South Lyon?
A typical home costs
$415,000, which is 22.7% more expensive than the national average of
$338,100 and 89.8% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in South Lyon costs
$1,340 per month, which is 21.8% more than the national average of
$1,100 and 9.0% more than the state average of
$1,220.
Can I afford South Lyon?
To live comfortably in South Lyon (zip 48178), Michigan, a minimum annual income of
$79,560 for a family, and
$42,000 for a single person is recommended.
What does A.I. say about South Lyon?
The cost of living in 48178 South Lyon, MI is quite reasonable compared to other areas of Michigan. The median home value in the area is $294,100 which is slightly higher than the national average but still very affordable. Renting prices are also quite affordable with a median rental rate of $1,318 per month. Groceries and utilities cost slightly more than the national averages, but overall the cost of living in this area is comfortably low. Additionally, many residents enjoy tax breaks due to their rural location, making 48178 South Lyon, MI an attractive place to live for those looking for lower costs without sacrificing quality of life.