Detroit, MI variant. This is a Detroit, MI-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in Detroit pits the $39,575 median income against a $80,000 median price - a price-to-income ratio of 2.0x.
Can you afford Detroit?
The 28% rule caps housing at $923/month on the local median income, supporting roughly $182,618 in price - versus the $80,000 Detroit median.
Detroit is relatively attainable on the local median income.
About Detroit, MI
Detroit imposes a city income tax on residents and on people who work in the city, in addition to Michigan state income tax.
Detroit has some of the most affordable home prices among major US cities, reflecting decades of population decline and ongoing revitalization.
Detroit's economy remains closely tied to the automotive industry, with growing diversification into technology and services.
Worked example: max price on $39,575
28% of $39,575 ÷ 12 ≈ $923/month supports about $182,618 at 6.5% with 20% down - compared with the $80,000 median.
Quick reference
- Median home value: $80,000
- Median rent: $1,100/mo
- Median household income: $39,575
- Local sales tax: 6%
- City income tax: 2.4%
- Effective property tax rate: 1.94%
- Cost of living index: 80 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in Detroit?
To afford the $80,000 median home, you'd typically need well above the $39,575 local median income at current rates.
What is the price-to-income ratio in Detroit?
About 2.0x (median home ÷ median income).