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Affordable
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These days, finding an affordable place to live in the Riga area can be challenging. Home prices in Riga are now at a median cost of $231,705, lower than the Michigan average of $250,415.
The average cost of rent is $1,017/mo in Riga, primarily driven by the current value of real estate in the Riga area. In Riga, 5.50% of households rent, and 45.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Riga is $8,071 per month. Households that rent pay about 12.60% of their income on rent here. Riga’s most expensive areas are in the eastern regions, while the cheapest areas are in the southern 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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Cities with Similar Populations
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