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These days, finding an affordable place to live in the Ann Arbor area can be challenging. Home prices in Ann Arbor are now at a median cost of $396,799, higher than the Michigan average of $196,062.
The average cost of rent is $1,458/mo in Ann Arbor, primarily driven by the current value of real estate in the Ann Arbor area. While nearly 42.63% of residents own their homes outright in Ann Arbor, 44.12% rent.
Housing affordability isn’t just about home prices, though. The average household income in Ann Arbor is $7,895 per month. Households that rent pay about 18.47% of their income on rent here. Ann Arbor's most expensive areas are in the southwestern regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Barton Hills, MI: higher priced homes
- Dixboro, MI: higher priced homes
- Saline, MI: less expensive homes
- Ypsilanti, MI: less expensive homes
- Dexter, MI: equally priced homes
- Whitmore Lake, MI: less expensive homes
- Mooreville, MI: less expensive homes
- Lima Center, MI: less expensive homes
- Bridgewater, MI: less expensive homes
- Salem, MI: equally priced homes
Cities with Similar Populations
- Simi Valley, CA: higher priced homes
- Snellville, GA: less expensive homes
- San Pedro, CA: higher priced homes
- San Diego, CA: higher priced homes
- San Francisco, CA: higher priced homes
- Pittsburgh, PA: less expensive homes
- Plant City, FL: less expensive homes
- Plainfield, IL: less expensive homes
- Philadelphia, PA: less expensive homes
- Pleasanton, CA: higher priced homes
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