Quick facts: Dearborn heights, MI

Quick Facts

105.3
Cost of Living
above US average
61,980
Population
20.01
Crime Rate per 1000
below US average
$58,335
Median Income
below US average
$269,500
Median House Price
above US average
$1909.47
Average Rent
above US average
Poverty rate Data is updating, will be available soon
4.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $58,335.

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Income Needed to Buy

βœ— Stretch
$85k/year
Based on $269,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $85k vs median $58,335
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Income Needed to Rent

⚠ Stretch
$82k/year
Based on $1909.47/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $82k vs median $58,335
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Dearborn heights, MI

Dearborn Heights is a vibrant city located in Wayne County, Michigan, just southwest of Detroit. The city is known for its diverse community and family-friendly atmosphere. With convenient access to major highways, Dearborn Heights offers a quick commute to the bustling metropolitan area of Detroit, making it an ideal location for those who work in the city but prefer a suburban lifestyle. The city boasts a rich history and a variety of amenities, including parks, recreational facilities, and community events. Residents enjoy the scenic beauty of its numerous parks and green spaces, perfect for outdoor activities. Dearborn Heights is also home to several educational institutions and public libraries that serve the community well. Shopping and dining options are plentiful, with various local businesses offering a range of products and cuisines. Additionally, the presence of cultural diversity enriches the community, reflected in its various festivals and events throughout the year. Overall, Dearborn Heights is a welcoming city that combines the charm of suburban living with the conveniences of urban proximity.

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