Whether you're considering relocation to Detroit, Michigan or just curious about the cost of living in Detroit, Michigan, the PayScale Cost of Living Calculator is the place to begin your research. When looking at the cost of living charts below, be sure to pay attention to the housing expense category. Housing costs and mortgage rates can vary by city because local banks can have different mortgage rates from their national competition. If you are serious about relocation to Detroit, Michigan, you might want to investigate local mortgage rate options before you put your house up for sale.
Cost of Living in Detroit, Michigan by Expense Category
Living in Detroit
Known as the world’s automotive center, Detroit, Michigan is also home to many of the country’s largest companies, including accounting firms. Detroit branches of KPMG, Deloitte and Touche and PriceWaterhouseCoopers, as well as the automobile manufacturers General Motors, Ford and Chrysler, provide the city of Detroit with many job opportunities. Also found downtown are the many skyscrapers that line the Detroit skyline. Built in an Art Deco style, these skyscrapers are more than just office buildings, they are also works of art. One of the many popular activities in Detroit is sailboat racing. Lake St. Clair is home to numerous yacht clubs where many regattas are held each year. If you are considering relocating to Detroit, you may be curious to learn how the cost of living in Detroit compares to the cost of living in your city. Use PayScale’s Cost of Living Calculator to get a cost of living comparison between cities.
Cost of Living in Detroit, Michigan
For a large city, Detroit has a surprisingly reasonable cost of living. The Cost of Living in Detroit is equal to the national average. One expense that is slightly higher is the cost of utilities, which is eight percent higher than the national average. However, the cost of utilities has a minimal impact on the overall cost of living. If you are worried about finding luxury housing in a relatively low-cost market, consider the many condos that are being built along the Detroit River. These waterfront condos have among the highest price tags in Detroit, however the view of the river may be well worth the higher cost.
Cost of Living: Warren, Michigan
For many of the people who work in downtown Detroit, living outside of the city limits is more appealing than living in the city itself. Just twenty minutes outside of Detroit is the city of Warren, Michigan, the third most populous city in Michigan. Warren is by no means a small town, but this suburb of Detroit offers a slower pace than big city life. Warren is a great place for families, and has a feeling of community that is very different from Detroit. Warren is known for its community centers, events and parks that help unite the people in Warren. When it comes to cost of living, Warren, Michigan is too small for data to have been collected. However, exploring information on Detroit provides a general idea of what to expect from the cost of living in Warren. If you are interested in more information about median salaries, commute times and the cost of living in Warren, Michigan, research PayScale’s Salary Data for Warren, Michigan
Cost of Living Comparison
The cost of living in Detroit appears quite reasonable, but how does it compare to the cost of living in your city? Use PayScale’s Cost of Living Calculator to compare the cost of living in your city to the cost of living in Detroit and other cities in Michigan.
Salaries in Detroit, Michigan
Because there are many large corporations in Detroit, there are many career opportunities with high salary potential. By researching Median Salaries in Detroit, you can see that many jobs in Detroit have high salaries. Detroit branches of General Motors, Ford and Chrysler have increased the demand for mechanical engineers. For starting mechanical engineers, the median salary is $70,229. If you progress to the senior mechanical engineer level, expect your salary to increase; senior mechanical engineers have a median salary of $83,120. Comparing Median Salaries by Years of Experience can also be helpful if you are considering a career in Detroit. For recent college graduates, median starting salaries are $44,370. Those with at least twenty years of experience can expect that starting salary to almost double; the median salary for those who have been in the workforce for at least twenty years is $82,570.