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Affordable
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These days, finding an affordable place to live in the Ray area can be challenging. Home prices in Ray are now at a median cost of $365,546, higher than the Michigan average of $250,415.
The average cost of rent is $1,249/mo in Ray, primarily driven by the current value of real estate in the Ray area. In Ray, 13.52% of households rent, and 43.16% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Ray is $9,687 per month. Households that rent pay about 12.89% of their income on rent here. Ray’s most expensive areas are in the southern 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
- Washington, MI: higher priced homes
- Armada, MI: equally priced homes
- Macomb, MI: equally priced homes
- Romeo, MI: equally priced homes
- New Haven, MI: less expensive homes
- Utica, MI: equally priced homes
- New Baltimore, MI: less expensive homes
- Richmond, MI: less expensive homes
- Muttonville, MI: equally priced homes
- Berville, MI: less expensive homes
Cities with Similar Populations
- Cabot, PA: less expensive homes
- Brookwood, AL: less expensive homes
- Wintersville, OH: less expensive homes
- Windsor, MO: less expensive homes
- Willard, UT: higher priced homes
- White Sulphur Springs, WV: less expensive homes
- West Suffield, CT: higher priced homes
- West Friendship, MD: higher priced homes
- Wellston, OK: less expensive homes
- Versailles, IN: less expensive homes
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