Housing costs in Detroit?
A typical home costs
$85,200, which is 74.8% less expensive than the national average of
$338,100 and 61.0% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Detroit costs
$980 per month, which is 10.9% cheaper than the national average of
$1,100 and 24.5% cheaper than the state average of
$1,220.
Can I afford Detroit?
To live comfortably in Detroit (zip 48206), Michigan, a minimum annual income of
$16,200 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Detroit?
The cost of living in Detroit's 48206 zip code is relatively affordable compared to the rest of the city. While housing costs are slightly higher than the national average, there are plenty of reasonably priced options and rent control laws to keep costs steady. Groceries, utilities, transportation, and health care are all below the national average, making it easier for families to budget. Furthermore, Detroit offers a variety of tax incentives that can help reduce living expenses even further. All in all, 48206 is a great location for those looking for an affordable place to call home.