Quick facts: Livonia, MI

Quick Facts

94.9
Cost of Living
below US average
93,779
Population
19.65
Crime Rate per 1000
below US average
$92,458
Median Income
above US average
$275,900
Median House Price
above US average
$1781.25
Average Rent
above US average
5%
Poverty Rate
below US average
2.8%
Unemployment Rate
below 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 $92,458.

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Income Needed to Buy

βœ“ Affordable
$87k/year
Based on $275,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($92,458) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$76k/year
Based on $1781.25/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($92,458) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Livonia, MI

Livonia, Michigan, is a vibrant suburban city located in Wayne County, just northwest of Detroit. Known for its family-friendly atmosphere and strong community spirit, Livonia boasts a population of approximately 95,000 residents. The city features a mix of residential, commercial, and industrial areas, making it a hub for various businesses and services. Livonia is well-known for its excellent public school system, which is a significant draw for families. The city offers numerous parks and recreational facilities, allowing residents to enjoy outdoor activities. Notable parks include the 90-acre Cass Benton Park, which features trails, picnic areas, and sports facilities. Transportation is convenient in Livonia, with easy access to major highways, such as I-96 and I-275, enabling quick commutes to Detroit and surrounding areas. The city is also home to several shopping centers, restaurants, and cultural attractions, providing a variety of entertainment options. Overall, Livonia combines a suburban lifestyle with the conveniences of nearby metropolitan Detroit, making it an attractive place to live and work.

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