Mortgage Payment Calculator for Detroit, MI
Updated 2026 · Local data pre-filled
The median home price in Detroit, MI is $215,000, with an effective property tax rate of 1.60% — higher than the national average of 1.10%. We've pre-filled the calculator with local figures so your estimate reflects what buyers actually pay in Detroit.
✓ Calculator below is pre-filled with Detroit local data
How Detroit Compares to the National Average
Understanding how Detroit stacks up helps you calibrate your financial planning.
| Metric | Detroit, MI | US Average | Difference |
|---|---|---|---|
| Median Home Price | $215,000 | $420,800 | -48.9% |
| Median Monthly Rent | $900 | $1,713 | -47.5% |
| Median Household Income | $57,400 | $74,580 | -23.0% |
| Property Tax Rate | 1.60% | 1.10% | +45.5% |
| Cost of Living Index | 88 | 100 | -12.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Detroit Financial Snapshot
- Population (Metro)
- 4,410,000
- Unemployment
- 5.3%
- Avg Commute
- 26 min
- Median Age
- 34.6
- Price-to-Rent Ratio
- 19.9x
- Annual Property Tax
- $3,440
Mortgage Payment Calculator in Other Michigan Cities
Frequently Asked Questions — Detroit
What is the median home price in Detroit, MI?
The median home price in Detroit is $215,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Detroit?
Median monthly rent in Detroit is $900. That works out to $10,800/year, or 19% of the median household income — within the commonly recommended 30% of income guideline.
Is Detroit affordable?
Detroit's cost of living index is 88 vs. the national average of 100. With a median household income of $57,400/year and a median home price of $215,000, the price-to-income ratio is 3.7x. Detroit remains relatively affordable compared to many US metros.
What is the property tax rate in Detroit?
The effective property tax rate in Detroit is 1.60% of assessed value. On the median home of $215,000, that's roughly $3,440/year ($287/month).