The typical owner-occupied home in Detroit is worth about $75,000, 64% below the Alabama median of $209,900 and 77% below the national median of $332,700. Owners pay a median $233 a year in property taxes, about 0.31% of their home's value, lower than the Alabama rate of 0.38%. 42% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Detroit at a glance
| Detroit | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $75,000 | $209,900 | $332,700 |
| Median property tax paid per year | $233 | $788 | $3,119 |
| Property tax as a share of value | 0.31% | 0.38% | 0.94% |
| Median household income | – | $63,999 | $80,734 |
| Homes lived in by their owners | 42% | 70% | 65% |
| Owner homes with a mortgage | 40% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $800 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 19.0% | 21.0% |
| Median rent | $377 | $1,007 | $1,413 |
| Rent as a share of renters' income | 25.4% | 29.5% | 30.6% |
| Median year homes were built | 1974 | 1986 | 1980 |
| Vacant homes | 45.4% | 14.5% | 10.1% |
| Population | 189 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Detroit
At this week's average 30-year rate of 7.11%, buying the median Detroit home of $75,000 with 20% down costs about $454 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $579, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $19,468 for the 20%-down payment.
The median rent here is $377 a month, so owning the median home costs about $77 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $15,000 |
|---|---|
| Loan amount | $60,000 |
| Principal and interest | $404 |
| Property taxes (0.31% a year) | $19 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $454 |
Change the numbers in the calculator
| Down payment | $2,625 |
|---|---|
| Loan amount | $73,642 |
| Principal and interest | $495 |
| Property taxes (0.31% a year) | $19 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $579 |
Change the numbers in the calculator
Questions about home buying in Detroit
What is the median home value in Detroit?
About $75,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Detroit?
Homeowners pay a median $233 a year, which is about 0.31% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Detroit?
For the median home with 20% down at 7.11%, the payment is about $454 a month. Keeping that under 28% of gross income takes about $19,468 a year.
More about Detroit
- Mortgage Refinance in Detroit
- Debt Relief in Detroit
- Home Equity Loans in Detroit
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data