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These days, finding an affordable place to live in the Moscow area can be challenging. Home prices in Moscow are now at a median cost of $195,181, lower than the Michigan average of $250,415.
The average cost of rent is $1,036/mo in Moscow, primarily driven by the current value of real estate in the Moscow area. In Moscow, 14.32% of households rent, and 55.20% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Moscow is $5,885 per month. Households that rent pay about 17.61% of their income on rent here. Moscow’s most expensive areas are in the northwestern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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