According to the Council for Community and Economic Research (C2ER), the Detroit region’s cost of living is only 103.0. 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, 2021 Average Data
| Metro Area | Index |
|---|---|
| Memphis, TN | 84.9 |
| St. Louis, MO | 87.1 |
| Columbus, OH | 91.5 |
| Cleveland, OH | 93.7 |
| Buffalo, NY | 94.4 |
| Minneapolis, MN | 102.9 |
| Detroit, MI | 103.0 |
| Baltimore, MD | 103.8 |
| Pittsburgh, PA | 103.4 |
| Atlanta, GA | 105.0 |
| Dallas, TX | 107.7 |
| Philadelphia, PA | 109.8 |
| Denver, CO | 113.5 |
| Chicago, IL | 123.3 |
| Seattle, WA | 152.7 |
| Boston, MA | 153.2 |
| Washington-Arlington-Alexandria, DC-VA | 158.1 |
| San Francisco, CA | 194.1 |
| Manhattan, NY | 255.0 |
Median Housing Value – 2020 5-Year ACS
The Detroit region offers one of the most affordable housing markets in the country.
| County/Metro Area | Median House Value |
|---|---|
| Genesee County | $119,500 |
| Lapeer County | $179,900 |
| Lenawee County | $143,000 |
| Livingston County | $256,100 |
| Macomb County | $174,000 |
| Monroe County | $167,400 |
| Oakland County | $252,800 |
| St. Clair County | $162,300 |
| Shiawassee County | $127,500 |
| Washtenaw County | $278,500 |
| Wayne County | $122,700 |
