Property Prices in Detroit, MI, United States

Index Info
Price to Income Ratio: 1.23
Mortgage as Percentage of Income: 10.97%
Loan Affordability Index: 9.12
Price to Rent Ratio - City Centre: 3.04
Price to Rent Ratio - Outside of Centre: 4.58
Gross Rental Yield (City Centre): 32.93%
Gross Rental Yield (Outside of Centre): 21.85%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,414.29 $ 1,000.00-2,000.00
Apartment (1 bedroom) Outside of Centre 1,026.33 $ 700.00-1,300.00
Apartment (3 bedrooms) in City Centre 3,333.33 $ 2,500.00-4,500.00
Apartment (3 bedrooms) Outside of Centre 1,658.33 $ 1,150.00-2,100.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 99.17 $ 85.00-170.01
Price per Square Feet to Buy Apartment Outside of Centre 90.83 $ 75.00-170.01
Salaries And Financing
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Average Monthly Net Salary (After Tax) 4,155.27 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.46 4.00-6.80

These data are based on 107 entries in the past 18 months from 30 different contributors.
Last update: May 2024

Sources and References
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