Affordability evidence
Detroit, MI home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Detroit, MI.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
The published evidence provides the starting point: In Detroit, MI, the 2024 ACS reports a median owner-occupied home value of $83,900, median household income of $39,938, and median selected monthly owner costs of $1,238 for owners with a mortgage. In practical terms, together, those three reference points can help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,238 measure combines recurring ownership expenses in place of real estate taxes alone. For the decision at hand, a useful affordability review starts with $83,900, $39,938, and $1,238, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Detroit, MI's $83,900 median home-value estimate is below the statewide $231,600 estimate, with a reported city-to-state gap of 63.8%.