Quick facts: River rouge, MI

Quick Facts

94.9
Cost of Living
below US average
7,040
Population
1.7
Crime Rate per 1000
below US average
$26,343
Median Income
below US average
$89,900
Median House Price
above US average
$1150.0
Average Rent
below US average
32%
Poverty Rate
above US average
12.3%
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 $26,343.

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Income Needed to Buy

βœ— Stretch
$28k/year
Based on $89,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $28k vs median $26,343
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Income Needed to Rent

⚠ Stretch
$49k/year
Based on $1150.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $49k vs median $26,343
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for River rouge, MI

River Rouge is a small city located in Wayne County, Michigan, situated along the banks of the Detroit River. Known for its rich industrial history, River Rouge played a significant role in the automotive industry, primarily due to the presence of the River Rouge Complex, one of the largest integrated steel mills in the world, owned by Ford Motor Company. The city spans approximately 2.1 square miles and has a diverse population, characterized by its close-knit community and a mix of residential, commercial, and industrial areas. River Rouge has historical landmarks, including the iconic River Rouge Park, which offers recreational opportunities for residents and visitors alike. Residents enjoy a suburban lifestyle with easy access to the vibrant urban scene of nearby Detroit. The city also hosts community events, fostering a strong sense of belonging. River Rouge is served by the River Rouge School District, focusing on providing quality education to its students. Overall, River Rouge represents a unique blend of history, community spirit, and proximity to the dynamic Greater Detroit area.

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