Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Penn area can be challenging. Home prices in Penn are now at a median cost of $298,189, higher than the Michigan average of $196,062.
The average cost of rent is $977/mo in Penn, primarily driven by the current value of real estate in the Penn area. While nearly 40.14% of residents own their homes outright in Penn, 9.53% rent.
Housing affordability isn’t just about home prices, though. The average household income in Penn is $6,590 per month. Households that rent pay about 14.83% of their income on rent here. Penn's most expensive areas are in the northern regions, while the cheapest areas are in the northeastern parts of the city.
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Cities with Similar Populations
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