Quick facts: Reed city, MI

Quick Facts

90.2
Cost of Living
below US average
2,515
Population
21.87
Crime Rate per 1000
below US average
$47,250
Median Income
below US average
$175,000
Median House Price
above US average
$1196
Average Rent
below US average
12%
Poverty Rate
above US average
5.0%
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 $47,250.

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Income Needed to Buy

βœ— Stretch
$55k/year
Based on $175,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $55k vs median $47,250
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Income Needed to Rent

⚠ Stretch
$51k/year
Based on $1196/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $51k vs median $47,250
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Reed city, MI

Reed City is a charming small city located in Osceola County, Michigan. Known for its picturesque landscapes and friendly community, it serves as a hub for outdoor activities and a relaxed way of life. The area is surrounded by natural beauty, including forests, rivers, and lakes, making it ideal for hiking, fishing, and boating. The city has a rich history, with roots tracing back to the late 19th century. Reed City was historically significant for the timber industry, and remnants of its past can be seen in its historic buildings and local museums. The downtown area features local shops, dining options, and seasonal events that bring the community together. Reed City is also known for its annual events, such as the Reed City Harvest Festival, which celebrates the local agriculture and crafts. Education is a priority, with several schools serving the community. For those looking for a serene environment with a strong community spirit, Reed City, MI, offers a unique blend of tranquility and small-town charm.

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