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Affordable
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These days, finding an affordable place to live in the Rankin area can be challenging. Home prices in Rankin are now at a median cost of $236,098, lower than the Michigan average of $250,415.
The average cost of rent is $1,651/mo in Rankin, primarily driven by the current value of real estate in the Rankin area. In Rankin, 20.41% of households rent, and 24.41% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Rankin is $7,709 per month. Households that rent pay about 21.42% of their income on rent here. Rankin’s most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Swartz Creek, MI: less expensive homes
- Gaines, MI: higher priced homes
- Grand Blanc, MI: higher priced homes
- Linden, MI: higher priced homes
- Newark, MI: higher priced homes
- Fenton, MI: higher priced homes
- Burton, MI: less expensive homes
- Flint, MI: less expensive homes
- Lennon, MI: less expensive homes
- Holly, MI: higher priced homes
Cities with Similar Populations
- Millsboro, OH: equally priced homes
- Lilydale, MN: higher priced homes
- Lockwood, NY: less expensive homes
- Loma Linda, MO: higher priced homes
- Long Point, TX: higher priced homes
- Lorenzo, TX: less expensive homes
- Lukachukai, AZ: less expensive homes
- Macks Creek, MO: less expensive homes
- Maddens, SC: less expensive homes
- Maple Hill, KS: less expensive homes
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