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These days, finding an affordable place to live in the Romeo area can be challenging. Home prices in Romeo are now at a median cost of $353,906, higher than the Michigan average of $250,415.
The average cost of rent is $1,222/mo in Romeo, primarily driven by the current value of real estate in the Romeo area. In Romeo, 15.31% of households rent, and 38.85% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Romeo is $9,035 per month. Households that rent pay about 13.52% of their income on rent here. Romeo’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern 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
- Leonard, MI: higher priced homes
- Armada, MI: equally priced homes
- Ray, MI: equally priced homes
- Lakeville, MI: higher priced homes
- Almont, MI: less expensive homes
- Oakland, MI: higher priced homes
- Allenton, MI: less expensive homes
- Berville, MI: less expensive homes
- Rochester, MI: higher priced homes
Cities with Similar Populations
- Manville, NJ: equally priced homes
- Lutherville-Timonium, MD: higher priced homes
- Lyndon, KY: less expensive homes
- Lyons, IL: less expensive homes
- Mabelvale, AR: less expensive homes
- Madison, NC: less expensive homes
- Malone, NY: less expensive homes
- Manati, PR: less expensive homes
- Manteno, IL: less expensive homes
- Mantua, NJ: less expensive homes
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