Average Home Price in Detroit Falls to $11,533; Monthly House Payment Would Be Less Than $50

Here is a posting from Mark Perry of Detroit board of Realtor's data on Detroit housing prices. This is down about $1300 less than last month.

Now I live in Wayne County which is the same county as Detroit. I really don't like thinking about this statistic. I knew that I should have rented when I moved here. 

Perry points out that a monthly mortgage payment could be as little as $50/month.

CARPE DIEM: Average Home Price in Detroit Falls to $11,533; Monthly House Payment Would Be Less Than $50