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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 $137,206, lower than the Texas average of $322,096.
The average cost of rent is $706/mo in Detroit, primarily driven by the current value of real estate in the Detroit area. In Detroit, 28.46% of households rent, and 49.42% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Detroit is $5,361 per month. Households that rent pay about 13.17% of their income on rent here. Detroit’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Bagwell, TX: higher priced homes
- Faulkner, TX: higher priced homes
- Fulbright, TX: higher priced homes
- Blossom, TX: higher priced homes
- Mabry, TX: higher priced homes
- Sun Valley, TX: higher priced homes
- Deport, TX: less expensive homes
- Dimple, TX: higher priced homes
- Reno, TX: higher priced homes
- Sherry, TX: equally priced homes
Cities with Similar Populations
- Stillmore, GA: less expensive homes
- Camargo, KY: higher priced homes
- Carlsbad North, NM: higher priced homes
- Carrizozo, NM: less expensive homes
- Center, NC: higher priced homes
- Center Ridge, AR: equally priced homes
- Deer Creek, IL: higher priced homes
- Diaz, AR: less expensive homes
- Dover Beaches North, NJ: higher priced homes
- Duboistown, PA: higher priced homes
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