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These days, finding an affordable place to live in the Addison area can be challenging. Home prices in Addison are now at a median cost of $215,589, lower than the Michigan average of $250,415.
The average cost of rent is $883/mo in Addison, primarily driven by the current value of real estate in the Addison area. In Addison, 13.73% of households rent, and 45.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Addison is $6,088 per month. Households that rent pay about 14.50% of their income on rent here. Addison’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Manitou Beach, MI: higher priced homes
- Somerset, MI: higher priced homes
- Cement City, MI: equally priced homes
- Rollin, MI: equally priced homes
- Somerset Center, MI: equally priced homes
- Cambridge Junction, MI: higher priced homes
- Jerome, MI: higher priced homes
- Locust Corners, MI: less expensive homes
- Brooklyn, MI: higher priced homes
- Rome Center, MI: higher priced homes
Cities with Similar Populations
- Bayou Gauche, LA: higher priced homes
- Marfa, TX: higher priced homes
- Yachats, OR: higher priced homes
- Waitsfield, VT: higher priced homes
- Gualala, CA: higher priced homes
- Minong, WI: equally priced homes
- Cloudcroft, NM: equally priced homes
- Eden Valley, MN: equally priced homes
- Bellport, NY: higher priced homes
- Clarendon, TX: less expensive homes
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