Housing costs in Detroit?
A typical home costs
$193,900, which is 42.7% less expensive than the national average of
$338,100 and 11.3% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,090 per month, which is 0.9% cheaper than the national average of
$1,100 and 11.9% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48202), Michigan, a minimum annual income of
$37,080 for a family, and
$34,400 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in 48202 Detroit, MI is relatively low when compared to other major metropolitan areas. Rent prices are on average much lower than the nation's average, with a one bedroom apartment costing an average of $732 per month. Groceries and other essentials such as transportation are also quite affordable. The median household income in the area is approximately $33,335, which is slightly lower than the national median. Overall, Detroit provides residents with a reasonable cost of living that allows them to enjoy all that the city has to offer without breaking the bank.