Quick facts: Wyoming, MI

Quick Facts

94.9
Cost of Living
below US average
76,726
Population
22.42
Crime Rate per 1000
below US average
$67,234
Median Income
below US average
$230,000
Median House Price
above US average
$1840.71
Average Rent
above US average
11%
Poverty Rate
above US average
4.4%
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 $67,234.

🏠

Income Needed to Buy

βœ— Stretch
$72k/year
Based on $230,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $72k vs median $67,234
🏒

Income Needed to Rent

⚠ Stretch
$79k/year
Based on $1840.71/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $79k vs median $67,234
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wyoming, MI

Wyoming, Michigan, is a vibrant city located in Kent County, adjacent to Grand Rapids. With a population of around 75,000, it is one of the largest cities in the state. Wyoming boasts a diverse community and a rich history, originally incorporated as a village in 1959 and later as a city in 1968. The area features a variety of recreational opportunities, including parks, trails, and sports facilities, making it ideal for outdoor enthusiasts. The city is known for its family-friendly atmosphere and offers several educational institutions, including public schools and private options. Wyoming's economy is diverse, with a mix of manufacturing, retail, and healthcare services. It is home to numerous businesses and corporate headquarters, contributing to its economic growth. Culturally, Wyoming hosts various events and festivals throughout the year, promoting local artists and fostering community engagement. The city's proximity to Grand Rapids allows residents to enjoy additional cultural attractions, shopping, and dining experiences while maintaining a suburban lifestyle. Overall, Wyoming, MI, is a welcoming and thriving community with plenty to offer.

πŸ” Search & Compare Places

First Location πŸ“