Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Gibraltar area can be challenging. Home prices in Gibraltar are now at a median cost of $235,524, higher than the Michigan average of $196,062.
The average cost of rent is $1,203/mo in Gibraltar, primarily driven by the current value of real estate in the Gibraltar area. While nearly 40.67% of residents own their homes outright in Gibraltar, 11.05% rent.
Housing affordability isn’t just about home prices, though. The average household income in Gibraltar is $8,659 per month. Households that rent pay about 13.90% of their income on rent here. Gibraltar's most expensive areas are in the southern regions, while the cheapest areas are in the southwestern parts of the city.
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