Property Prices in Detroit, MI, United States
| Index |  |
|---|---|
| Price to Income Ratio: | 1.53 |
| Mortgage as Percentage of Income: | 11.31% |
| Loan Affordability Index: | 8.84 |
| Price to Rent Ratio - City Centre: | 2.51 |
| Price to Rent Ratio - Outside of Centre: | 3.79 |
| Gross Rental Yield (City Centre): | 39.77% |
| Gross Rental Yield (Outside of Centre): | 26.40% |
| Rent Per Month | [ Edit ] | Range |
|---|---|---|
| Apartment (1 bedroom) in City Centre | 1,461.79 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,008.84 $ | |
| Apartment (3 bedrooms) in City Centre | 2,450.00 $ | |
| Apartment (3 bedrooms) Outside of Centre | 1,462.50 $ | |
| Buy Apartment Price | [ Edit ] | |
| Price per Square Feet to Buy Apartment in City Centre | 72.19 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 70.68 $ | |
| Salaries And Financing | [ Edit ] | |
| Average Monthly Net Salary (After Tax) | 2,507.05 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 4.16 |
These data are based on 148 entries in the past 18 months from 31 different contributors.
Last update: August 2020
Sources and References
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