Property Prices in Detroit, MI, United States

Index
Price to Income Ratio:	1.52
Mortgage as Percentage of Income:	11.02%
Loan Affordability Index:	9.08
Price to Rent Ratio - City Centre:	3.36
Price to Rent Ratio - Outside of Centre:	2.32
Gross Rental Yield (City Centre):	29.72%
Gross Rental Yield (Outside of Centre):	43.16%

Rent Per Month	Edit	Range
Apartment (1 bedroom) in City Centre	1,466.92 $	900.00-1,905.00
Apartment (1 bedroom) Outside of Centre	1,164.60 $	799.00-1,905.00
Apartment (3 bedrooms) in City Centre	2,306.25 $	1,500.00-3,000.00
Apartment (3 bedrooms) Outside of Centre	1,500.00 $	1,000.00-2,800.00
Buy Apartment Price	Edit
Price per Square Feet to Buy Apartment in City Centre	94.33 $	52.00-140.23
Price per Square Feet to Buy Apartment Outside of Centre	47.69 $	29.64-150.00
Salaries And Financing	Edit
Average Monthly Net Salary (After Tax)	2,521.46 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	4.00	2.80-4.50

These data are based on 146 entries in the past 18 months from 40 different contributors.
Last update: January 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?