Calculate using real Detroit data. Median home price: $100,000. Property tax rate: 2.78%.
The median home price in Detroit, MI is $100,000. With a 20% down payment, you would need $20,000 down and finance $80,000.
Based on the median home price of $100,000 with 20% down at a 6.5% rate, the estimated monthly payment (principal & interest) is approximately $506.
The median household income in Detroit, MI is $34,762, which impacts how much home you can afford.