| Detroit, MI | |
|---|---|
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| State | Michigan |
| Population | 674,841 |
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Compared to its nearby areas, Detroit is a lot less expensive, and it's substantially less expensive compared to the rest of the nation.
The median home in Detroit is valued at $49,200. This is roughly $86,600 (63%) lower compared to its nearby areas.It is roughly $168,300 (77%) lower in comparison to the entire country.
Detroit's median rent is $824 per month. Compared to nearby areas it is roughly $159 (16%) lower.It is about $238 (22%) lower in comparison to the rest of the nation.
Highland Park is Detroit's neighbor to the north. The real estate prices there are somewhat less expensive. The median home in Highland Park costs $45,700, which works out to $3,500 (7%) lower than Detroit. Rents there are substantially less expensive. The median monthly rent in Highland Park is $596, which is $228 (38%) lower than Detroit.
Hamtramck is Detroit's neighbor to the east. Its housing prices are somewhat more expensive. The median home in Hamtramck is valued at $69,700, which comes out to $20,500 (29%) higher than Detroit. Rents there are a little less expensive. Hamtramck's median monthly rent is $729, which is $95 (13%) lower than Detroit.
Ferndale is Detroit's neighbor to the north. Its real estate prices are significantly more expensive. The median home price in Ferndale is $162,000, which works out to $112,800 (69%) higher than Detroit. Rent there is somewhat more expensive. In Ferndale the median monthly rent is $1,032, which is $208 (20%) higher than Detroit.
Hazel Park is Detroit's neighbor to the north. Housing prices there are substantially more expensive. The median home in Hazel Park costs $73,600, which comes out to $24,400 (33%) higher than Detroit. Rent there is somewhat more expensive. Hazel Park's median rent is $978 a month, which comes out to $154 (15%) higher than Detroit.
Oak Park is Detroit's neighbor to the northwest. The real estate prices there are a lot more expensive. The price of the median home in Oak Park is $117,700, which works out to $68,500 (58%) higher than Detroit. Its rents are a little more expensive. In Oak Park the median monthly rent is $1,120, which is $296 (26%) higher than Detroit.
Pleasant Ridge is about 6 miles north from Detroit. Real estate prices there are a lot more expensive. The median home in Pleasant Ridge is valued at $346,100, which is $296,900 (85%) higher than Detroit. Its rents are substantially more expensive. In Pleasant Ridge the median monthly rent is $1,445, which is $621 (42%) higher than Detroit.