Quick facts: Wixom, MI

Quick Facts

94.9
Cost of Living
below US average
17,152
Population
13.18
Crime Rate per 1000
below US average
$72,896
Median Income
below US average
$339,900
Median House Price
above US average
$2416.5
Average Rent
above US average
5%
Poverty Rate
below US average
3.5%
Unemployment Rate
below 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 $72,896.

🏠

Income Needed to Buy

βœ— Stretch
$107k/year
Based on $339,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $72,896
🏒

Income Needed to Rent

⚠ Stretch
$104k/year
Based on $2416.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $104k vs median $72,896
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wixom, MI

Wixom, Michigan, is a charming city located in Oakland County. With a population of around 13,500, it features a mix of suburban residential areas and commercial spaces. The city is situated roughly 30 miles northwest of Detroit, making it a convenient location for those who work in the metro area but prefer a quieter lifestyle. Wixom boasts a rich history, originally established as a railroad town in the 1870s. It has transformed over the years and is known for its community-oriented atmosphere, good schools, and parks. Notable parks include the Wixom Recreation Park, which offers various sports facilities and walking trails. The city is also home to several local businesses, dining options, and retail establishments, making it a vibrant place to live. With its close proximity to major highways, Wixom provides easy access to surrounding areas and attractions, including nearby Novi and South Lyon. Overall, Wixom is ideal for families and individuals looking for a suburban lifestyle with the conveniences of urban amenities nearby.

πŸ” Search & Compare Places

First Location πŸ“