Home Price Key
Affordable
Average
Expensive
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 $215,900, higher than the Michigan average of $196,062.
The average cost of rent is $1,198/mo in Detroit, primarily driven by the current value of real estate in the Detroit area. While nearly 41.66% of residents own their homes outright in Detroit, 29.07% rent.
Housing affordability isn’t just about home prices, though. The average household income in Detroit is $6,567 per month. Households that rent pay about 18.24% of their income on rent here. Detroit's most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Highland Park, MI: less expensive homes
- Hamtramck, MI: less expensive homes
- Ferndale, MI: less expensive homes
- Hazel Park, MI: less expensive homes
- Pleasant Ridge, MI: higher priced homes
- Oak Park, MI: less expensive homes
- Dearborn, MI: less expensive homes
- Huntington Woods, MI: higher priced homes
- Center Line, MI: less expensive homes
- Melvindale, MI: less expensive homes
Cities with Similar Populations
- Richmond, CA: higher priced homes
- Renton, WA: higher priced homes
- Port St. Lucie, FL: higher priced homes
- Queens, NY: higher priced homes
- Queen Creek, AZ: higher priced homes
- Provo, UT: higher priced homes
- Rancho Cucamonga, CA: higher priced homes
- Portland, OR: higher priced homes
- Racine, WI: less expensive homes
- Rancho Cordova, CA: higher priced homes
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