Quick facts: Saginaw, MI

Quick Facts

94.9
Cost of Living
below US average
43,477
Population
41.86
Crime Rate per 1000
above US average
$35,521
Median Income
below US average
$72,500
Median House Price
above US average
$907.41
Average Rent
below US average
24%
Poverty Rate
above US average
10.2%
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 $35,521.

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Income Needed to Buy

βœ“ Affordable
$23k/year
Based on $72,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($35,521) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$39k/year
Based on $907.41/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $39k vs median $35,521
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Saginaw, MI

Saginaw, Michigan, is a city located in the heart of the Great Lakes Bay Region. Known for its rich history and diverse culture, Saginaw serves as a hub for the surrounding communities and has a population of around 48,000 residents. The city features a mix of urban and suburban neighborhoods, offering a variety of housing options and amenities. Saginaw has a strong industrial heritage, once thriving on manufacturing and trade, and now boasts a growing economy with diverse sectors, including healthcare, education, and retail. The city is home to numerous parks and recreational areas, such as Ojibway Island and the Saginaw River, which provides opportunities for outdoor activities and community events. Culturally, Saginaw is home to several museums, theaters, and art galleries. The Saginaw Art Museum, which features a collection of American art, and the historic Castle Museum are notable attractions. The city also hosts various events throughout the year, celebrating local culture and community spirit. With its mix of history, culture, and recreational opportunities, Saginaw offers a unique living experience in Michigan.

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