Housing costs in Wayne?
A typical home costs
$148,100, which is 56.2% less expensive than the national average of
$338,100 and 32.3% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Wayne costs
$1,000 per month, which is 9.1% cheaper than the national average of
$1,100 and 22.0% cheaper than the state average of
$1,220.
Can I afford Wayne?
To live comfortably in Wayne (zip 48184), Michigan, a minimum annual income of
$28,440 for a family, and
$31,600 for a single person is recommended.
What does A.I. say about Wayne?
The cost of living in 48184 Wayne, MI is higher than the national average. The estimated cost of goods and services is 107.6, whereas the United States average is 100. Housing prices are 12% higher than the US average and rental costs are 13% higher. As a result, residents of 48184 Wayne, MI have to consider budgeting more carefully when it comes to necessities like rent, groceries and other essentials. Despite this, however, there are affordable housing options available for those on lower incomes or those who need assistance with housing payments. Additionally, there are economic development initiatives that encourage businesses to start up in this area, which can help to create more job opportunities as well as provide an influx of new residents who may be more able to afford the high cost of living in this area.