Quality of Life in Detroit, MI for an Income of $74,880

Overview of Cost of Living

• General Cost of Living: Detroit's cost of living is relatively lower than the national average. This encompasses housing, groceries, transportation, and utilities, providing more value to residents earning $74,880 annually.
• Comparison to National Average: The overall cost of living index in Detroit is approximately 83.1, where the U.S. average is 100. This marks it as a more affordable city than many other parts of the country.

Housing Market

• Median Home Price: As of recent data, the median home price in Detroit is around $75,000, significantly lower than the national median of approximately $430,000. This makes homeownership more accessible for those with an annual income of $74,880.
• Renting Options: Rental prices are also comparatively lower, making it viable for individuals not yet ready to purchase property. The average rent for a one-bedroom apartment is significantly below the national average.

Quality of Life

• Affordability: With the lower cost of living and housing prices, individuals earning $74,880 can enjoy a more comfortable quality of life, having more discretionary income for savings, recreation, or dining.
• Cultural and Recreational Opportunities: Detroit offers a rich cultural scene with numerous museums, music venues, and parks, enhancing the living experience.

Access to Healthcare

• Healthcare Facilities: Detroit houses several top-tier hospitals and healthcare facilities, providing good access to medical services.
• Healthcare Costs: The cost of healthcare services is slightly above the national average, though still manageable within the given income, particularly with employer-supported health insurance options.

Quality of K-12 Schools

• Public School System: The quality of K-12 education varies, with some schools performing well and others requiring improvement. Schools in suburban areas generally have higher ratings compared to urban ones.
• Alternative School Options: Charter and magnet schools are available, offering additional educational opportunities for residents seeking alternatives within the public school system.

Assessment

Earning $74,880 in Detroit, MI, affords a comfortable lifestyle, thanks mainly to the low cost of living and affordable housing market. Residents benefit from reasonable access to essential services like healthcare, but the quality of public education has varying standards. Overall, Detroit presents an appealing choice for individuals and families seeking