Home Price Key
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Average
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These days, finding an affordable place to live in the Hamburg area can be challenging. Home prices in Hamburg are now at a median cost of $318,116, higher than the Michigan average of $196,062.
The average cost of rent is $1,154/mo in Hamburg, primarily driven by the current value of real estate in the Hamburg area. While nearly 28.20% of residents own their homes outright in Hamburg, 9.53% rent.
Housing affordability isn’t just about home prices, though. The average household income in Hamburg is $8,201 per month. Households that rent pay about 14.07% of their income on rent here. Hamburg's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
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