Grosse Pointe Woods
Quiet and Beautiful
Housing and Housing Statistics in Grosse Pointe Woods, MI
Housing is often the largest expense we face each month. The average monthly home ownership costs for owners with a mortgage in GPW is $1,839, which is higher than the nation as a whole. The average monthly rent in GPW is $1,316, which is higher than the U.S. Approximately 5,494 housing units are owner-occupied. About 69.9% of owners and 74.6% of renters pay less than 30% of their income toward housing expenses, a measure of affordability. Owners make up 83.8% of housing units. 9.5% of the housing units are occupied by renters. 67.3% of homes in Grosse Pointe Woods were built after 1990. 85.7% of all housing units in GPW have three bedrooms or more.
When searching for real estate in Grosse Pointe Woods, MI, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Grosse Pointe Woods, MI, the median house price is $180,000, while the median income for households in the area is $89,513. Therefore, the ratio of house price to income is 2.0x; this ratio is 18% lower than the average in Michigan. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are – when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Grosse Pointe Woods, MI.
Education Employment & Crime
"DID YOU KNOW?"
- The average school test scores in Grosse Pointe Woods are 12% higher than the national average.
- There are approximately 7 public schools in Grosse Pointe Woods.
- 96.9% of people in Grosse Pointe Woods have completed 8th grade.
- 96.5% of people in Grosse Pointe Woods have completed high school.
- 57.7% of people in Grosse Pointe Woods have completed a bachelors degree.
- The income per capita in Grosse Pointe Woods is 43% higher than the national average.
- The median household income in Grosse Pointe Woods is 67% higher than the national average.
- Male median earnings are 41% higher than female median earnings.
- The unemployment rate in Grosse Pointe Woods is 12% lower than the national average.
- The poverty level in Grosse Pointe Woods is 72% lower than the national average.
- The overall crime rate in Grosse Pointe Woods is 55% lower than the national average.
- For every 100,000 people, there are 3.54 daily crimes that occur in Grosse Pointe Woods.
- Grosse Pointe Woods is safer than 80% of the cities in the United States.
- In Grosse Pointe Woods you have a 1 in 78 chance of becoming a victim of any crime.
- The number of total year over year crimes in Grosse Pointe Woods has decreased by 4%.
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