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Cost of Living

According to the Council for Community and Economic Research (C2ER), the Detroit region’s cost of living is only 94.8 or 5.2 percent below the national average. Compared with other major metropolitan areas throughout the United States, the Detroit region is a very affordable place to live.

Since the late 1990s, a renaissance of new housing has started in the Detroit region. From lofts in the Cultural Center, to townhouses near Comerica Park, to single-family residences along the Detroit River, the Detroit region offers a variety of high demand housing at affordable prices.

Cost of Living Index for Select Metro Areas
2013 2nd Quarter

Metro Area Index
Memphis, TN 84.7
Columbus, OH 86.7
Cincinnati, OH 92.0
Pittsburgh, PA 93.7
Detroit, MI 94.8
Atlanta, GA 95.5
Dallas, TX 96.4
St. Louis, MO 99.3
Cleveland, OH 99.7
Buffalo, NY 101.0
Denver, Co 105.2
Madison, WI 106.6
Minneapolis, MN 108.8
Chicago, IL 113.4
Baltimore, MD 115.7
Seattle, WA 117.8
Philadelphia, PA 121.2
Hartford, CT 125.8
Boston, MA 138.0
Washington-Arlington-Alexandria, DC-VA 140.9
San Francisco, CA 159.5
Manhattan, NY 218.8

Source: C2ER Cost of Living Index.

Median Housing Value – 2011 5 year ACSThe Detroit region offers one of the most affordable housing markets in the country. 

County/Metro Area Median House Value Median Rent Value
Gensee County $109,000 $685
Lapeer County $155,000 $687
Lenawee County $133,800 $663
Livingston County $203,200 $887
Macomb County $148,600 $779
Monroe County $156,600 $755
Oakland County $190,500 $894
St. Clair County $141,800 $723
Shiawassee County $122,800 $646
Washtenaw County $208,800 $879
Wayne County $110,000 $775

Source: SEMCOG.

    • Angela
    • Ladetto
    • Director of Research
    • 313.596.0418
    • Christyn
    • Lucas
    • Business Research Analyst
    • 313.596.0372

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DETROIT, February 21, 2014: Today, Detroit Regional Chamber President and CEO Sandy K. Baruah issued the following statement on the Detroit Plan of Adjustment: “Detroit’s Plan of Adjustment provides a clear, workable and reasonable strategy to exit this historic bankruptcy. Continue Reading Continue Reading