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These days, finding an affordable place to live in the Detroit area can be challenging. Home prices in Detroit are now at a median cost of $93,048, lower than the Illinois average of $300,242.
The average cost of rent is $806/mo in Detroit, primarily driven by the current value of real estate in the Detroit area. In Detroit, 12.97% of households rent, and 50.37% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Detroit is $3,481 per month. Households that rent pay about 23.15% of their income on rent here. Detroit’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Milton, IL: higher priced homes
- Time, IL: higher priced homes
- Valley City, IL: less expensive homes
- Griggsville, IL: higher priced homes
- Pittsfield, IL: higher priced homes
- Montezuma, IL: higher priced homes
- Maysville, IL: higher priced homes
- Independence, IL: higher priced homes
- Oxville, IL: higher priced homes
- New Salem, IL: equally priced homes
Cities with Similar Populations
- Robbs, MS: higher priced homes
- Lime Rock, CT: higher priced homes
- Limekiln, PA: higher priced homes
- Linn, OK: higher priced homes
- Linwood, MS: equally priced homes
- Little Creek, DE: higher priced homes
- Little Falls, WA: higher priced homes
- Mabbettsville, NY: higher priced homes
- Riverdale, VA: higher priced homes
- Roaring Springs, TX: equally priced homes
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