The typical home value of homes in Michigan is $236,980. This value is seasonally adjusted and only includes the middle price tier of homes.
How much is an average house in Michigan?
Typical home price in Michigan: $234,386 (55% of typical U.S. price)
Is Michigan expensive to live in?
Nationally, Michigan ranks fourth among states for the lowest cost of living, at about 10% below the national average, with communities like Detroit and Grand Rapids also ranking among the top regions internationally for housing affordability.
How much does it cost to build a 2000 sq ft house in Michigan?
The average cost to build a home in Michigan is $90 to $150 per square foot, or between $225,000 and $265,000.
Materials.
| Material | Average cost by square foot | Average total cost for a 2,000 square foot home |
|---|---|---|
| Concrete | $4.25 to $6.25 per square foot | $8,500 to $12,500 |
What is average cost of living per month in Michigan?
The typical renter in Michigan spends $850 a month on housing, $173 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $672, while the typical rent for a unit with five or more bedrooms is $1,187.
What salary do you need to live comfortably in Michigan?
Living Wage Calculation for Michigan
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 3 Children | |
| Living Wage | $16.36 | $32.14 |
| Poverty Wage | $6.19 | $7.46 |
| Minimum Wage | $9.87 | $9.87 |
How much does it cost to live comfortably in Michigan?
Michigan cost of living is 89.6
| COST OF LIVING | Michigan | United States |
|---|---|---|
| Housing | 65.5 | 100 |
| Median Home Cost | $207,800 | $291,700 |
| Utilities | 100.1 | 100 |
| Transportation | 115.1 | 100 |
What is the cheapest place to live in Michigan?
The 10 best & most affordable cities to live in Michigan are:
- Kalamazoo.
- Manistee.
- Battle Creek.
- Iron Mountain.
- Albion.
- Springfield.
- Jackson.
- Menominee.
What is a good salary for a single person in Michigan?
Based on the U.S. median income of $59,039 in 2016, that means Michigan’s middle-class income for a single adult who lives alone is between $22,561 and $67,344, while the range is $45,120 to $134,689 for a household of four.
Which state has lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
How much does it cost to build a house in Michigan 2022?
Average Cost Based On Location
| State | Average Cost Range |
|---|---|
| Illinois | $200,000 – $750,000 |
| Maryland | $200,000 – $380,000 |
| Massachusetts | $250,000 – $600,000 |
| Michigan | $225,000 – $265,000 |
Does it cost more to build or buy a house?
As a rule of thumb, it’s cheaper to buy a house than to build one. Building a new home costs $34,000 more, on average, than purchasing an existing home. The median cost of new construction was $449,000 in May 2022.
What is the cheapest way to build a house in Michigan?
There are plenty of cheap building materials and alternatives to consider to cut costs.
- Prefabricated panel. Prefabricated panels are built off-site and shipped to you, ready for assembly.
- Concrete sheets.
- Shipping containers.
- Reclaimed wood.
- Bamboo.
- Brick.
- Cob.
- Recycled bottles.
What is an average electric bill in Michigan?
Electricity bills in Michigan
In Michigan, the average monthly electricity bill for residential consumers is $176/month, which is calculated by multiplying the average monthly consumption by the average rate for electricity: 960 kWh * 18 ¢/kWh.
Which state is expensive to live?
Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Hawaii has the highest costs across all indexes, except healthcare.
What are the cheapest counties to live in in Michigan?
Which Michigan county is the most affordable place to live?
- Washtenaw County. Cost-of-living score: 105.6, which means the cost of living averages 5.6% above the national average.
- Oakland County.
- Grand Traverse County.
- Clinton County.
- Kent County.
- Midland County.
- Allegan County.
- Marquette County.
What is middle class in Michigan?
How Much Income Do You Need in Michigan To Be Considered Middle Class. The median average income in Michigan is $59,584.
What is a good hourly wage in Michigan?
Average Salary in Michigan
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $89,303 | $43 |
| 75th Percentile | $66,977 | $32 |
| Average | $63,053 | $30 |
| 25th Percentile | $44,205 | $21 |
How much are teachers paid in Michigan?
The average teacher salary in Michigan is $61,978.
What is considered low income in Michigan?
low-income household: income of 80% AMI ($50,240) or less. very low-income household: income of 50% AMI ($31,400) or less. extremely low-income household: income of 30% AMI ($18,840) or less.
What is poverty level income in Michigan?
Who is eligible for the Michigan Lifeline program?
| 135% of 2021 Poverty Guideline | |
|---|---|
| Number of Household Members | Annual Income (AGI) |
| 1 | $17,388 |
| 2 | $23,517 |
| 3 | $29,646 |