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Cost of living in Detroit, MI

Compared with New York. Change city

$2,567a month less for the typical home than in New York1,2

That's $30,800 a year, enough to cover 20 months of the mortgage in Detroit. The average commute is 10 minutes shorter each way, about 1.7 hours a week back4.

Typical home $274,950 vs $742,000. 2-bedroom rent3 $1,398 vs $1,997. See the math

By Sol Lakein.Checked October 2026.How we compare costs

Detroit skyline, DetroitWilliam Duggan / Unsplash
All cities
  • Big-city lifeNFL, NBA, MLB, NHL teams
  • On the waterDetroit Riverwalk

Detroit at a glance, next to New York

5

What the median home costs each month

1,2
New York metro$4,078/mo
$742,000 typical home
Detroit$1,511/mo
$274,950 typical home

If you rent: median 2-bedroom

3
New York metro$1,997/mo
Detroit$1,398/mo
About $599 a month less in rent
Rent by apartment size in Detroit

Home prices next to New York

1
Typical home for sale
New York metro$742,000
Detroit$274,950
63% less, a $467,050 difference
Price per square foot
New York metro$494
Detroit$186
2.7 times the space for the money

Pays you to move

10
$1,000 cashMake Detroit Home ($1,000 newcomer relocation grants)Up to $1,000 relocation or financial support for selected participantsWho qualifies: Remote track: full-time remote or self-employed, living outside the City of Detroit. Job seeker track: new full-time job in Michigan. Both: $50,000 income minimum, 18+, move into Detroit within 6 months.Program details, 2026-10-06

Weather

9
  • 19.2°January low
  • 83.7°July high
  • 45 inSnow per year

Day-to-day costs

  • Housing costs65% cheaper than averageNew York: 49% above
  • Salary that matches $150,000 in New York6$133,656
  • Net move-ins from other US metros, 2024-257-5,850
Detroit in a paragraph

The median listed home in Detroit is $274,950 (Realtor.com, September 2026), 34% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $1,511 a month. The median 2-bedroom rent is $1,398 a month, utilities included (Census, 2025). Everyday prices index at 100.3, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $133,656 here.

Your New York, in Detroit

We're matching Detroit's parks, museums, arenas and food halls to their New York counterparts. Until then, see how it works for Raleigh.

See how Detroit ranks for your household

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See how Detroit ranks for you

Is Detroit a good place to live?

Detroit fits families who want homes list 34% below the US median and nonstop flights to New York. The main trade-off is real winters. Here is what you gain and what you give up.

What you gain

  • Homes list 34% below the US median$274,950 median listing against $419,250 nationally.Realtor.com via FRED, September 2026
  • Nonstop flights to New YorkFrom DTW to LGA, JFK, EWR.Airport route page, October 8, 2026
  • Pays you to moveMake Detroit Home ($1,000 newcomer relocation grants): $1,000 cash.Program page, 2026-10-06
  • On the waterDetroit RiverwalkSlower Sundays city profile

What you trade

  • Real wintersJanuary lows average 19.2°F with 45 inches of snow a year.NOAA 1991-2020 normals
  • More people leave than arrive5,850 more people left for other US metros than arrived, July 2024 to July 2025.US Census Bureau, Vintage 2025

More on Detroit and Michigan

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Detroit cost of living: questions people ask

What is the cost of living in Detroit, MI?

The median listed home in Detroit is $274,950 (Realtor.com, September 2026), 34% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $1,511 a month. The median 2-bedroom rent is $1,398 a month, utilities included (Census, 2025). Everyday prices index at 100.3, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $133,656 here.

How much would I save moving from New York to Detroit?

The median listed home is $274,950 in Detroit against $742,000 in the New York metro, 63% less. On a mortgage for each median home, that is about $2,567 a month less in principal and interest (20% down, 7.32%, Freddie Mac, October 22, 2026).

How much is rent in Detroit?

The median gross rent for a 2-bedroom in the Detroit metro is $1,398 a month, including utilities the renter pays (Census American Community Survey, 2025). In the New York metro it is $1,997, $599 more. The US median is $1,563.

What salary in Detroit matches $150,000 in New York?

$133,656. That is $150,000 adjusted by the BEA regional price parities for both metros (100.3 in Detroit, 112.6 in New York, 2024).

Does Detroit pay you to move there?

Yes. Make Detroit Home ($1,000 newcomer relocation grants) offers $1,000 cash. Who qualifies: Remote track: full-time remote or self-employed, living outside the City of Detroit. Job seeker track: new full-time job in Michigan. Both: $50,000 income minimum, 18+, move into Detroit within 6 months.. Confirm current terms with the program.

What is the weather like in Detroit?

January lows average 19.2°F and July highs 83.7°F, with 45 inches of snow a year (NOAA 1991-2020 normals, Detroit Metropolitan Airport (DTW)).

Notes on the numbers
  1. 1Home prices: the typical home is the median listing price, with price per square foot, from Realtor.com via FRED, September 2026. The comparison metro uses the same series and month.
  2. 2Monthly cost: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA. Rate source
  3. 3Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units (rent plus utilities). Covers all renters, including long-time tenants, not only new leases. Census table
  4. 4Commute: Census ACS 2025 1-year, table S0801, mean travel time to work (one way, workers who do not work from home), 2025. Hours back assume a 5-day round trip. Census table
  5. 5At a glance: a difference within 5% counts as about the same.
  6. 6Everyday prices, housing costs and the matching salary: BEA regional price parities, 2024, US = 100.
  7. 7Net move-ins: Census Vintage 2025, via Regions Financial.
  8. 8Flights: airport route pages, October 2026.
  9. 9Weather: NOAA 1991-2020 normals, Detroit Metropolitan Airport (DTW).
  10. 10Incentives: terms come from each program's page. Confirm eligibility with the program before you move.
Sources for this page