Michigan cost of living is 89.6
| COST OF LIVING | Michigan | United States |
|---|---|---|
| Grocery | 93.4 | 100 |
| Health | 86 | 100 |
| Housing | 65.5 | 100 |
| Median Home Cost | $207,800 | $291,700 |
Is Michigan a high cost of living state?
The city with the lowest cost of living index for 2022 was St. Louis, with an index of 85.0. The city with the highest cost of living was Columbia, with an index of 95.2.
2022 First Quarter Cost of Living.
| Rank | 1 | 10 |
|---|---|---|
| State | Mississippi | Michigan |
| Index | 83.1 | 89.9 |
| Grocery | 92.3 | 90.4 |
| Housing | 63.8 | 77.8 |
How much do groceries cost per month in Michigan?
Cities within the state differ, though. Numbeo.com data from May 2019 recommends minimum monthly food spending on food of $303.17 in Detroit and $272.72 in Lansing. That’s just for basic groceries, though. If you love to eat out, you’ll need to adjust your food budget accordingly.
What is the average cost of a home in Michigan?
$237,156. The typical home value of homes in Michigan is $237,156. This value is seasonally adjusted and only includes the middle price tier of homes.
What city in Michigan has the lowest cost of living?
Ann Arbor. In 2018, Ann Arbor was named #1 on our Top 100 Best Places to Live list and it’s easy to see why. This college town can add another jewel to its crown: the most affordable place to live in the state. Median household income, here, is $70,286, with a median home value at $250,200.
What is the cost of living increase for Michigan in 2022?
(5.9%)
2022 COLA Increase (5.9%)
With inflation (CPI) running much higher than in past years, seniors and retirees will see a nice boost to their social security benefits check in 2022.
How much do you need a month to live comfortably in Michigan?
On average in Michigan, a family with two preschool children needs an average minimum income of $2,580 to $4,722 a month to pay for basic necessities, the report says. The $2,580 is for a two-parent family with one stay-at-home parent.
What is the average car payment in Michigan?
The average Michigan resident pays $9,304.28 every year for their car. That’s a monthly cost of about $775 for Michiganders to own a car, way more than the national average.
What is an average electric bill in Michigan?
Electricity bills in Michigan
In Michigan, the average monthly electricity bill for residential consumers is $175/month, which is calculated by multiplying the average monthly consumption by the average rate for electricity: 954 kWh * 18 ¢/kWh.
How much does rent cost in Michigan?
On a whole, Michigan’s rent is up 15.71% when comparing 2020 to 2021. The state’s average was $1,194 for a one bedroom. Michigan is in the middle of the pack among its Midwest neighbors. Ohio prices were 17.83% more year-over-year.
How much does it cost to build a 4 bedroom 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.
Is it the right time to buy a house in Michigan?
For Michigan buyers that are interested in finding the most amount of homes listed for sale, spring is the optimal time to shop around and make an offer. In fact, more new listings tend to hit the market in April, May, and June in the state of Michigan than any other month, according to Zillow.
Where should I not live in Michigan?
The 5 Worst Places To Live In Michigan In 2022
- 5.) Flint. Adam Maloney via Unsplash. 5.) Flint.
- 4.) Jackson. Google Maps. 4.) Jackson.
- 3.) Detroit. Jason Hutchison via Unsplash. 3.) Detroit.
- 2.) Benton Harbor. Google Maps. 2.) Benton Harbor.
- 1.) Muskegon Heights. Google Maps. 1.) Muskegon Heights.
What is the most miserable city in Michigan?
Detroit was named the third-most miserable story by Business Insider, Flint was the ninth and Saginaw was the 33rd. Gary, Indiana, ranked as the number one most miserable city, with Port Arthur Texas coming in at number two. The least most miserable city in Michigan is Novi, which checked in at number 838.
What is the best part of Michigan to live in?
The best places to live in Michigan:
- Okemos. Population: 24,141. Overall grade: A+
- Troy. Population: 83,989.
- Bloomfield Charter Township. Population: 42,054.
- Huntington Woods. Population: 6,322.
- Beverly Hills. Population: 10, 387.
- Grosse Pointe Park. Population: 11,153.
- Novi. Population: 60,014.
- East Grand Rapids. Population: 11,759.
How much do you need to make a year to live in Michigan?
A survey from Purdue University and GoBankingRates.com found that you need a minimum annual salary of $95,865 to be happy in Michigan, but that comes with a caveat of a higher than average unemployment rate.
What is the current cost of living raise?
5.9 percent
With COLAs, Social Security and Supplemental Security Income (SSI) benefits keep pace with inflation. The latest COLA is 5.9 percent for Social Security benefits and SSI payments. Social Security benefits will increase by 5.9 percent beginning with the December 2021 benefits, which are payable in January 2022.
What is the cost of living for 2022?
Just recently, it was announced that the Social Security cost-of-living adjustment (COLA) for January 2022 was 5.9%, the highest increase in 40 years, due to the current increased cost of living. It’s been predicted that the Social Security COLA for 2023 could be as high as 8.9% or even above.
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 |
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 middle class income in Michigan?
How Much Income Do You Need in Michigan To Be Considered Middle Class. The median average income in Michigan is $59,584. The cost of living in Michigan is 7.7% less expensive than the US average.