How does Michigan rank in cost of living?
Overall, the cost of living in Michigan ranks as the 14th lowest among states. It is important to note that this index reflects the annual average cost of living in 2021 and does not account for recent price increases due to inflation.
Is Michigan a high cost of living state?
The cost of living in Michigan is 8% lower than the national average, making it a more affordable place to live than many other states. Just make sure you set some money aside to buy a nice winter coat. (Seriously, the winter temperatures in Michigan are no joke!)
Where is Michigan ranked in cost of living?
| Rank | State | Index |
|---|---|---|
| 1 | West Virginia | 85.2 |
| 12 | Nebraska | 91.0 |
| 13 | Michigan | 91.0 |
| 14 | Indiana | 91.1 |
How much does it cost to live comfortably in Michigan?
Michiganders would need a minimum income of $50,049 to live comfortably. That income will be harder to stretch if you live in downtown Detroit, where Apartments.com says the average rent is $1,047 a month.
How does cost of living compare to Michigan?
The cost of living in Michigan is 3% lower than the national average. Housing is 13% lower than the national average, while utilities are 0% . When it comes to basic necessities such as food and clothing, groceries are around 1% higher than in the rest of the country, while clothing costs 1% higher.
Which state is the cheapest to live in?
The cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee. Mississippi is the cheapest state to live in in the US, with a cost of living index of 85. The second cheapest state to live in is Oklahoma, with a cost of living index of 85.8.
Is it cheaper to live in Michigan or California?
According to data from World Population Review, Michigan has a much lower cost of living rate compared to California. For example, one can see the difference when comparing the cost of living in a major city in both states. On average, Los Angeles, California, is 98.6% more expensive than Detroit, Michigan.
Should I move to Michigan or Ohio?
Michigan is more affordable compared to Ohio. Michigan ranks as the seventh state with the lowest cost of living in the country while Ohio ranks fifteenth. Home values are comparable between Michigan and Ohio.
Is Michigan a high income state?
Median Household Income: $63,202. Average Household Income: $85,727. Per Capita Income: $34,768. 6.6% of Households in Michigan are High Income Households that make over $200,000 a year.
What state is best to live in financially?
| Rank | State | Top state income tax rate |
|---|---|---|
| 1 | Tennessee | 0.00% |
| 2 | Utah | 4.95% |
| 3 | Idaho | 6.93% |
| 4 | Arkansas | 5.90% |
What's a good salary in Michigan?
What is a 'good' salary in Michigan? The median income in Michigan is $57,697. Defining 'good' relies on all sorts of variable factors, and these should be taken into account when considering salaries.
Is 80k a good salary in Michigan?
Originally Answered: Is 80k a year good salary in Ann arbor? That would be pretty good. You won't feel like the richest person in town, but you'll be able to afford anything you want and save plenty.
How much do I need to make a year to live comfortably 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 best city to live in Michigan?
1. Ann Arbor -- With an overall score of 6.7/10, Ann Arbor is not only rated as the best place to live in Michigan, it came in at No. 14 in the U.S. Thanks to the diverse offerings in the city and a thriving job market, Ann Arbor has a little bit of something for everyone.
Where in Michigan is cost of living lowest?
The top five small Michigan cities in affordability are: Livonia, Troy, Allen Park, Holt and Rochester Hills. The bottom five are: East Lansing, Pontiac, Flint, Saginaw and Southfield. Southfield's median home value is about $10,000 cheaper than Holt's.
Why is Michigan a good state to live in?
With its rich cultural heritage, stunning natural beauty, thriving economy, affordable housing, top-notch education institutions, vibrant arts, and entertainment scene, and much more, Michigan offers a multitude of reasons why it's the perfect state to move to.
What's the most expensive state to live in?
- Hawaii is the most expensive state to live in based on the monthly cost of living. ...
- The state of California comes in at second-most expensive based on monthly costs of living. ...
- New Jersey ranks as the third-most expensive state by cost of living. ...
- Massachusetts is the fourth-most expensive state to live in.
Is it cheap to live in Michigan?
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.
What state has the highest cost of living?
Hawaii has the highest cost of living index of 184, which is significantly higher than any other state in the US. The state with the lowest cost of living index is Mississippi, with a score of 85.
Is Michigan good to move to?
The takeaway? Michigan is a great place to call home. From the stunning Great Lakes and beautiful beaches to the bustling cities and charming small towns, there are so many reasons someone should consider moving to the state.
Is it a good idea to move to Michigan?
Is Michigan a good place to live? All told, Michigan is a great place to live for those that love the outdoors, friendly locals, affordable housing and low cost of living. However, the brutal winters are not to be trifled with and can drive you up the wall.
Is it cheaper to live in Michigan or Florida?
Benefits of Moving from Florida to Michigan. Compared to other states, Michigan boasts a relatively lower cost of living. Besides food, utilities, entertainment, and clothing, the housing in Michigan is also reasonably priced. Michigan's average monthly utility bill is $94.52, surprisingly 17% lower than the US average ...
What's the best state to move to from Michigan?
Florida is the top destination for Michiganders moving out of the Great Lakes state.
Who is the favorite Michigan or Ohio State?
| Favorite | Spread (Odds) | Total |
|---|---|---|
| Michigan | -3.5 (-108) | 46.5 |
Is Michigan a good place to retire?
The state of Michigan represented itself remarkably in the U.S. News, which ranked it as one of the best places in the United States to retire. U.S. News went out and asked 3,500 seniors, either retired or about to retire, what their needs are every year.
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