Median home value: $374K (+2.5% YoY). Rent: $1,381/mo. Price-to-rent: 22.6x. Part of Detroit-Warren-Dearborn, MI.
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Home Value$374,201
+2.5%
Rent$1,381/mo
AFFORDABILITYRenting $1,027/mo cheaper ($1,381 rent)6.00% 30yr, 20% down, county tax + MI ins. 28% per HUD.
Enter your income for Farmington Hills.
$74,840 on $374,201
Out of reach — 38.5% of income
Need $103,200/yr to afford.
PITI$2,408
P/I38.5%
Afford$272K
Gap-$102K
P&I $1,795Tax $480Ins $133
Home Buying Kit For Dummies (2025)Financing, negotiation, closing