Property Prices in Detroit, MI, United States

Index Info
Price to Income Ratio: 1.27
Mortgage as Percentage of Income: 10.08%
Loan Affordability Index: 9.92
Price to Rent Ratio - City Centre: 3.59
Price to Rent Ratio - Outside of Centre: 5.94
Gross Rental Yield (City Centre): 27.89%
Gross Rental Yield (Outside of Centre): 16.84%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,266.67 $ 1,000.00-1,500.00
Apartment (1 bedroom) Outside of Centre 858.33 $ 750.00-1,100.00
Apartment (3 bedrooms) in City Centre 2,716.67 $ 1,700.00-4,500.00
Apartment (3 bedrooms) Outside of Centre 1,600.00 $ 1,200.00-2,200.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 100.00 $ 100.00-100.00
Price per Square Feet to Buy Apartment Outside of Centre 105.00 $ 100.00-110.00
Salaries And Financing
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Average Monthly Net Salary (After Tax) 4,330.56 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 4.99 3.00-6.00

These data are based on 61 entries in the past 18 months from 13 different contributors.
Last update: March 2023

Sources and References
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