Property Prices in Detroit, MI, United States

Index Info
Price to Income Ratio: 1.69
Mortgage as Percentange of Income: 12.43%
Loan Affordability Index: 8.05
Price to Rent Ratio - City Centre: 2.71
Price to Rent Ratio - Outside of Centre: 4.70
Gross Rental Yield (City Centre): 36.94%
Gross Rental Yield (Outside of Centre): 21.28%
Rent Per Month [ Edit ] Range
Apartment (1 bedroom) in City Centre 1,092.86 $ 800.00-1,500.00
Apartment (1 bedroom) Outside of Centre 793.75 $ 550.00-1,000.00
Apartment (3 bedrooms) in City Centre 1,864.29 $ 900.00-2,700.00
Apartment (3 bedrooms) Outside of Centre 1,386.67 $ 900.00-1,850.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 58.56 $ 51.67-80.00
Price per Square Feet to Buy Apartment Outside of Centre 74.60 $ 27.62-139.35
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 2,121.31 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 4.13 3.75-4.54

These data are based on 109 entries in the past 18 months from 17 different contributors.
Last update: October 2018

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2 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?
#Raygoo Gibbreilla on Mar 28, 2016 :
I live in Detroit and everyday i constantly fear for my life