Quick facts: Taylor, MI

Quick Facts

94.9
Cost of Living
below US average
62,258
Population
24.33
Crime Rate per 1000
above US average
$59,352
Median Income
below US average
$160,000
Median House Price
above US average
$1721.83
Average Rent
above US average
12%
Poverty Rate
above US average
6.2%
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 $59,352.

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Income Needed to Buy

βœ“ Affordable
$50k/year
Based on $160,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($59,352) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$74k/year
Based on $1721.83/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $74k vs median $59,352
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Taylor, MI

Taylor, Michigan, is a vibrant city located in Wayne County, approximately 15 miles southwest of downtown Detroit. With a population of around 61,000 residents, Taylor offers a mix of suburban charm and urban accessibility. The city is part of the Detroit metropolitan area, making it convenient for commuters who work in the city but prefer a more residential lifestyle. Taylor is known for its diverse community, excellent schools, and numerous parks, providing ample recreational opportunities for families and individuals alike. The Taylor Sportsplex is a popular venue for sporting events, while the nearby Heritage Park offers walking trails, picnic areas, and a lake for boating. The city features a variety of shopping and dining options, including the Southland Center, a large regional mall that hosts a range of retail brands and eateries. Taylor also hosts several annual events and festivals that celebrate local culture and community spirit. Transportation is accessible with several major roadways connecting Taylor to surrounding areas, along with public transit options. Overall, Taylor, MI is a dynamic and growing city that balances community life with proximity to the urban amenities of Detroit.

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