Housing costs in Detroit?
A typical home costs
$164,200, which is 51.4% less expensive than the national average of
$338,100 and 24.9% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,120 per month, which is 1.8% more than the national average of
$1,100 and 8.9% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48242), Michigan, a minimum annual income of
$31,320 for a family, and
$35,200 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48242 Detroit, MI is relatively low compared to the rest of the country. The median home value is around $80,000, and the median rent for a one-bedroom apartment is around $700. Additionally, groceries, transportation, and utilities are all quite affordable. Overall, living in this area comes with a number of advantages that make it an attractive option for those who want to save money while still having access to all the necessary amenities.