Property Prices in Detroit, MI, United States

Index
Price to Income Ratio:	1.30
Mortgage as Percentage of Income:	9.18%
Loan Affordability Index:	10.89
Price to Rent Ratio - City Centre:	4.40
Price to Rent Ratio - Outside of Centre:	3.28
Gross Rental Yield (City Centre):	22.72%
Gross Rental Yield (Outside of Centre):	30.53%

Rent Per Month	Edit	Range
Apartment (1 bedroom) in City Centre	1,314.58 $	800.00-1,905.00
Apartment (1 bedroom) Outside of Centre	1,147.62 $	799.00-1,905.00
Apartment (3 bedrooms) in City Centre	1,875.00 $	1,200.00-2,500.00
Apartment (3 bedrooms) Outside of Centre	1,483.33 $	1,200.00-1,850.00
Buy Apartment Price	Edit
Price per Square Feet to Buy Apartment in City Centre	106.33 $	57.50-140.23
Price per Square Feet to Buy Apartment Outside of Centre	66.53 $	29.64-150.00
Salaries And Financing	Edit
Average Monthly Net Salary (After Tax)	3,575.20 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	3.66	2.80-4.10

These data are based on 119 entries in the past 18 months from 22 different contributors.
Last update: July 2021

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This page in other languages:

DeutschImmobilienpreise in Detroit
PortuguêsPreços de Imóveis em Detroit
ItalianoPrezzi delle proprietà immobiliari a Detroit
FrançaisPrix de l'immobilier à Détroit
EspañolPrecios de Inmuebles en Detroit

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1 Comments so far

Tipu on May 20, 2018:

How come the average income of an Islamabad resident is 5 times lower than a Detroit resident, but prices of apartments are lower for Detroit city centre?