What salary do you need to live in Stickney Woods Sub No 2, Michigan?

A median-priced Stickney Woods Sub No 2 home is about $981,825. At today's 7.40% 30-year fixed rate with 20% down, that's roughly $7,009 per month and about $186,914 per year in household income to qualify.

Cost of Living in Stickney Woods Sub No 2: What Salary Do You Need to Buy a Home?

Q: Is it cheaper to rent or buy in Stickney Woods Sub No 2, Michigan?

Renting in Stickney Woods Sub No 2 is estimated at about $1,500 per month (roughly $1,325 – $1,700), from Census data covering a wider area than this place alone, adjusted toward what is being asked today using HUD Fair Market Rents. Owning the median home costs an estimated $7,009 per month with 20% down — roughly $5,509 per month more than renting. Both figures are estimates, not quotes.

Real numbers from this area's median sale price, property taxes, and household income — calculated at today's mortgage rate.

To buy a median-priced Stickney Woods Sub No 2 home (around $981,825) at today's 7.40% 30-year fixed rate with 20% down, you'd need roughly $187k/year in household income to qualify — an estimated monthly payment of $7,009 (principal, interest, property tax est., and insurance).

Mortgage (principal and interest) $5,438 · Property tax (est.) $1,227 · Insurance (est.) $344 = $7,009/mo

Assumes 20% down; excludes PMI and HOA fees.

Down payment	Monthly: mortgage, tax, insurance	Income needed
20%	$7,009/mo	$186,914
10% (+PMI)	$8,057/mo	$214,860
5% (+PMI)	$8,418/mo	$224,470

Estimates use a 7.40% 30-year fixed rate (current Freddie Mac average), an aggressive ~45% housing-to-income ratio (roughly what FHA underwriting can allow for a buyer with no other monthly debts — your number depends on your debts and credit), this area's median sale price, plus estimated insurance and PMI below 20% down. Not a commitment to lend, and not an APR — your actual rate and payment will vary.

Rent vs. buy in Stickney Woods Sub No 2

Census tract estimate

Renting costs about $5,509/mo less than owning the median Stickney Woods Sub No 2 home — a typical rent of about $1,500/mo, against roughly $7,009/mo to own with 20% down.

Monthly cost	Estimate
Rent, typical	$1,500/moroughly $1,325 – $1,700
Own, 20% downMortgage, property tax and insurance; no PMI or HOA	$7,009/mo

By bedroom — raw Census medians for current renters, not adjusted to today’s asking rents:

1 bed $9502 bed $1,125

Estimate (2023 ACS 5-year data), based on Census tract data, widened until there were enough renting households to measure, so it describes a larger area than Stickney Woods Sub No 2 alone. Adjusted toward what is being asked today using HUD Fair Market Rents, because the Census figure counts every household already renting — including long-tenured ones paying below current market. Rent figures are rounded to the nearest $25 — the underlying estimates are not precise enough to read closer than that. The ownership figure is the monthly payment only: it excludes maintenance and closing costs, and it doesn't count the equity a payment builds. Renting has no down payment. Both are estimates, not quotes.

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