Quick facts: Plymouth, MI

Quick Facts

94.9
Cost of Living
below US average
9,252
Population
11.13
Crime Rate per 1000
below US average
$107,156
Median Income
above US average
$489,000
Median House Price
above US average
$2066.41
Average Rent
above US average
5%
Poverty Rate
below US average
3.2%
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 $107,156.

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Income Needed to Buy

βœ— Stretch
$153k/year
Based on $489,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $153k vs median $107,156
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Income Needed to Rent

βœ“ Affordable
$89k/year
Based on $2066.41/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($107,156) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Plymouth, MI

Plymouth, Michigan, is a charming city located in Wayne County, approximately 30 miles southwest of Detroit. Known for its vibrant downtown area, Plymouth combines a rich historical charm with modern amenities. The city boasts a picturesque main street lined with quaint shops, restaurants, and cafes that cater to a variety of tastes. Plymouth is famous for its annual events, such as the Plymouth Ice Festival, which draws crowds for ice sculptures and winter festivities, and the Plymouth Fall Festival, celebrating the season with cultural activities. The city's history is evident in its well-preserved downtown buildings and community parks, including the expansive Kellogg Park, a local gathering spot for concerts and community events. With a strong sense of community, Plymouth is ideal for families, offering excellent schools and safe neighborhoods. Residents enjoy outdoor activities, with nearby parks and recreational spaces available for hiking, biking, and sports. Overall, Plymouth presents a perfect blend of small-town warmth and vibrant community spirit, making it a delightful place to live or visit.

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