Quick facts: Redford, MI

Quick Facts

94.9
Cost of Living
below US average
46,899
Population
9.6
Crime Rate per 1000
below US average
$59,000
Median Income
below US average
$178,200
Median House Price
above US average
$1729.0
Average Rent
above US average
10%
Poverty Rate
below US average
4.8%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $59,000.

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Income Needed to Buy

βœ“ Affordable
$56k/year
Based on $178,200 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($59,000) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$74k/year
Based on $1729.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $74k vs median $59,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Redford, MI

Redford, located in Wayne County, Michigan, is a suburban community situated just northwest of Detroit. This vibrant area is known for its residential charm, with a diverse population and a strong sense of community. Redford features a mix of single-family homes, townhouses, and apartments, making it an appealing option for families, young professionals, and retirees alike. The community is served by the Redford Union School District, which offers quality education and various extracurricular activities. Parks and recreational spaces, such as Redford’s popular Beech Park and the picturesque Redford Township District Library, provide residents with outdoor and community engagement opportunities. Transportation is convenient with multiple major roadways nearby, allowing easy access to Detroit and surrounding areas. This proximity to Detroit brings the advantages of urban amenities, including shopping, dining, and entertainment, while still providing a tranquil suburban atmosphere. Redford hosts community events throughout the year, fostering a tight-knit atmosphere among its residents. Overall, Redford, MI, combines the charm of suburban living with easy access to the cultural and economic opportunities of nearby Detroit.

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