Quality of Life in Detroit, MI for an Annual Income of $100,560
Overview
Detroit, Michigan, offers a unique blend of cultural richness and industrial history, making it an intriguing place to live. With an annual income of $100,560, it's essential to assess how this income level stands up against the city's cost of living, housing market, and other quality of life factors.
Cost of Living
- Affordability: Detroit has a relatively lower cost of living compared to many other major U.S. cities. This income comfortably covers basic living expenses.
- Cost Index: The cost of living index in Detroit is about 78, compared to the U.S. national average of 100, indicating that the city is affordable.
- Utilities & Groceries: Both utilities and groceries fall below the national average, allowing residents to save on essentials.
Housing Market
- Home Prices: Detroit's housing market is known for being affordable. The median home price is significantly lower than the national average, making homeownership accessible.
- Average Home Price: As of late 2023, the average home price in Detroit is around $175,000, while the national average is closer to $430,000.
- Investment Opportunities: The affordable market presents opportunities for real estate investment and ownership with favorable returns.
Quality of Life
- Cultural Scene: Detroit is rich in cultural and historical attractions, including museums, music venues, and art festivals.
- Urban Development: Significant urban renewal projects have led to revitalized neighborhoods and enhanced public spaces.
- Transportation: While public transportation options exist, they are still developing, making car ownership beneficial but not essential.
Access to Healthcare
- Healthcare Facilities: Detroit is home to several reputable hospitals and medical centers providing comprehensive health services.
- Insurance Coverage: With an income of $100,560, accessing quality health insurance is manageable, providing security in healthcare needs.
- Health Services: A mix of public and private health providers ensures diverse options for healthcare accessibility.
Quality of K-12 Schools
- School Districts: Detroit offers a variety of public, charter, and private school options.
- Education Quality: While some public schools face challenges, there are high-performing schools and specialized programs.
- Investment in Education: Recent initiatives focus on educational improvements, aiming to enhance overall student achievement.
Assessment Summary
Living in Detroit with an annual income of $
