In Detroit, a significant income is required to buy a home. The amount needed is around $110,000 per year. This is due to the cost of housing in the area.
Median household income has risen, but it remains lower than the required amount. The current median household income is $87,599. Further information on home affordability can be found in a report by Redfin, which provides more details on the income required to buy a home in the area.
Recent coverage curated from local and regional sources.
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