Housing costs in Detroit?
A typical home costs
$168,600, which is 50.1% less expensive than the national average of
$338,100 and 22.9% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$1,240 per month, which is 12.7% more than the national average of
$1,100 and close to the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48207), Michigan, a minimum annual income of
$32,400 for a family, and
$39,200 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in Detroit's 48207 zip code is relatively low compared to other cities. Overall, the area is very affordable, with median home prices at around $49,000 and median rent at just over $650 per month. The price of basic goods such as food and clothing is also lower than the national average. This makes 48207 an attractive option for those looking for an affordable place to live in Detroit.