Foreclosure Homes for Sale in Ann Arbor, MI: Everything You Need to Know
Ann Arbor has a population of 119,980 which is made up of an estimated 71% Whites, 6.5% Blacks, 17.3% Asians, and 4.7% Latinos amongst other races. Households are made up of 2.27 persons each and homes have a median price of $298,400. The average capital per person is $40,868. 22.6% of the population falls under the poverty line. The median age of residents is 28 years old. Ann Arbor is full of young families, mature adults, and lots of college students.
Know Your Neighborhoods
Home values are up to $381,200 on average in Ann Arbor, with costs rising by 9.3% from 2019. This region is known for its low crime rates, attracting students and families. Some of the safest neighborhoods to live in are the Old West Side/Allmendinger Heights, Burns Park, and Allen. Other districts that are highly rated are South Main, located in a very walkable area near Michigan Stadium, Yost ice arena, and Burns Park.
Located on the northside, Lowertown is made up of the oldest homes in the city. It’s a lively community filled with college students. For more affordable homes, look at Saline. This is a small and charming town that has shopping, dining, arts, and parks all within walking distance. Dexter is a newer development that has been rapidly growing as it is filled with history, culture, and community activities.
Schools in Ann Arbor
This city is known for its thriving economy, growing jobs, and excellent schools. Ann Arbor has scored number 268 of 10,782 schools on the Best School Districts in America, and number 11 out of 556 of the Best School Districts in Michigan.
The Ann Arbor Public School District has 17,820 students from grades PK, K-12 and a student to teacher ratio of 16:1. Four out of five High Schools received an A+ rating. Other top-notch schools are Clague Middle School, Angell School, Thurston Elementary School, and Martin Luther King Elementary School.
The University of Michigan, a public 4-year institution, is located within the Ann Arbor center. Cleary University is a 4-year private college that is only 3 miles outside of town. Washtenaw Community College is also in Ann Arbor and is a 2-year public college that locals can attend at a more affordable price.
Ann Arbor Real Estate: The Cost of Living
The cost of living in Ann Arbor is 5% higher than the national average. Monthly expenses can vary based on factors such as your salary, the real estate market, and personal preferences. However, you can calculate the average cost of living based on various necessities to thrive in the city.
The average monthly rent is $1,276. You will pay about $167.46 for your phone bill, and $157.10 on electricity. Driving around will cost you $2.57 a gallon. Food and groceries are about 10% higher than the national average. Healthcare costs are also more expensive than the national average by about 25%. Residents pay a sales tax of 6%.