3.4
Home value-to-income ratio
$237,000
Median home value
$69,200
Median household income
Historical data
Coming soon
Long-run charts for this indicator are on the way.
Compared to the United States
| Indicator | Michigan | United States |
|---|---|---|
| Home value-to-income ratio | 3.4 | 4.7 |
National ranking
Michigan ranks #5 of 35 states by home value-to-income ratio.
| #1 | Oklahoma | 2.9 |
| #2 | Illinois | 3.1 |
| #3 | Ohio | 3.2 |
| #4 | Indiana | 3.3 |
| #5 | Michigan | 3.4 |
| #6 | Pennsylvania | 3.5 |
| #7 | Missouri | 3.5 |
| #8 | Wisconsin | 3.6 |
| #9 | Minnesota | 3.7 |
| #10 | Virginia | 4.2 |
| #11 | Georgia | 4.4 |
| #12 | North Carolina | 4.5 |
| #13 | Delaware | 4.6 |
| #14 | Tennessee | 4.6 |
| #15 | New Jersey | 4.9 |
| #16 | Utah | 5.3 |
| #17 | Rhode Island | 5.4 |
| #18 | Maine | 5.4 |
| #19 | New York | 5.5 |
| #20 | Arizona | 5.6 |
| #21 | Nevada | 5.9 |
| #22 | Colorado | 5.9 |
| #23 | Massachusetts | 6 |
| #24 | Oregon | 6.1 |
| #25 | Washington | 6.1 |
| #26 | Montana | 6.4 |
| #27 | Wyoming | 12 |
| #28 | New Mexico | 18 |
| #29 | Vermont | 30 |
| #30 | New Hampshire | 78 |
| #31 | Texas | 84 |
| #32 | South Dakota | 88 |
| #33 | Florida | 105 |
| #34 | Louisiana | $4,700 |
| #35 | Kentucky | $186,000 |
Overview
In Michigan, housing affordability stands at 3.4 (home value-to-income ratio). The U.S. figure for Home value-to-income ratio is 4.7, versus 3.4 for Michigan. Other housing affordability indicators for Michigan — Median home value: $237,000; Median household income: $69,200.
Did you know?
- Michigan is one of the few large states where a median home still costs under 3.5 times median income.