Median Home PriceBETTER
$172,107.12
Median Rent
$1,375.22/mo
Price-to-Rent RatioBETTER
10.4
Property Tax RateTIE
1.54%
Price Change (1Y)
+3.2%
Price Change (5Y)
+16.1%
Break-Even YearsBETTER
9 years
10-Year Wealth DifferenceBETTER
+$4,916
Median Home Price
$216,047.91
Median RentBETTER
$1,303.21/mo
Price-to-Rent Ratio
13.8
Property Tax RateTIE
1.54%
Price Change (1Y)BETTER
+4.7%
Price Change (5Y)BETTER
+23.3%
Break-Even Years
N/A
10-Year Wealth Difference
$35,166
Key Differences
Home Prices
Detroit's median home price of $172,107.12 is lower than Lansing's $216,047.91 by 20%.
Monthly Rent
Renting in Detroit costs $1,375.22/mo compared to $1,303.21/mo in Lansing—a difference of $72.01/mo.
Buy vs Rent Verdict
Detroit favors either option, while Lansing favors renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.