Housing costs in Bloomfield Hills?
A typical home costs
$587,000, which is 73.6% more expensive than the national average of
$338,100 and 168.4% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Bloomfield Hills costs
$1,360 per month, which is 4.9% cheaper than the national average of
$1,430 and 19.1% more than the state average of
$1,100.
Can I afford Bloomfield Hills?
To live comfortably in Bloomfield Hills (zip 48302), Michigan, a minimum annual income of
$112,320 for a family, and
$42,800 for a single person is recommended.
What does A.I. say about Bloomfield Hills?
The cost of living in 48302 Bloomfield Hills, MI is quite high compared to other parts of Michigan and the United States. The median household income is well above the national average at $201,717 per year, while the median home value stands at an impressive $685,000. This high rate of income reflects relatively low unemployment rates and a strong job market in the area. Despite this high cost of living, residents enjoy access to excellent public schools, a variety of shopping and dining options, various outdoor recreational activities and proximity to major cities like Detroit and Ann Arbor. With such a strong economic environment and wide range of amenities available in Bloomfield Hills, it's easy to understand why many people are willing to pay extra for the privilege of living in this desirable community.