Quick facts: Garden city, MI

Quick Facts

94.9
Cost of Living
below US average
26,815
Population
10.07
Crime Rate per 1000
below US average
$63,630
Median Income
below US average
$229,000
Median House Price
above US average
$1431.0
Average Rent
above US average
12%
Poverty Rate
above US average
4.2%
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 $63,630.

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Income Needed to Buy

βœ— Stretch
$72k/year
Based on $229,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $72k vs median $63,630
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Income Needed to Rent

βœ“ Affordable
$61k/year
Based on $1431.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($63,630) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Garden city, MI

Garden City is a city located in Wayne County, Michigan, a suburb of Detroit. Established in the early 20th century, it has a rich history characterized by its growth from farmland to a bustling urban area. The city covers approximately 6.2 square miles and features a diverse community with a population of around 27,000 residents, offering a mix of residential, commercial, and recreational spaces. One of Garden City's highlights is its strong sense of community, evidenced by various local events and festivals throughout the year. It boasts several parks, including the popular Garden City Park, which offers playgrounds, sports facilities, and walking trails, providing ample opportunities for outdoor activities. Garden City also offers convenient access to major highways, making it easy for residents to commute to nearby Detroit and other cities in the region. The local school district is known for its commitment to education, with various programs supporting students of all ages. Overall, Garden City combines suburban charm with urban convenience, making it an attractive place to live, work, and play in southeastern Michigan.

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