WhereCanIAfford › Detroit, MI › On $425,000

Is Detroit, MI affordable on a $425,000 salary?

YES On $425,000/yr, the typical $264,316 home in Detroit, MI needs $82,752/yr ($1,931/mo). Your gap: +$342,248 — housing would be 5.5% of your gross income.

The math

264,316 price − 10% down (26,432) = 237,884 loan
30-yr fixed at 7.18% on 237,884 = 1,612/mo principal+interest
+ 319/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
1,931/mo PITI ÷ 0.28 = 6,896/mo → 82,752/yr required

against Zillow ZHVI 2026-09 and the 7.18% FRED 30-yr rate (2026-11-05).

What salary WOULD clear Detroit, MI?

You need about $82,752/yr for the typical home. On $425,000 you already clear it by $342,248.

On $400,000? On $450,000? On $475,000?

See the full Detroit, MI affordability breakdown → or every metro you can afford on $425,000 →