How much do you need to make to live comfortably in Michigan? (2024)

How much do you need to make 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 much do you have to make 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.

What is a decent salary in Michigan?

The average salary in Michigan is $41,549 per year or $19.98 per hour. Entry level positions start at $30,568 per year while most experienced workers make up to $95,260 per year.

What is the average salary for a person living in Michigan?

Overall, the average salary in Michigan is $31.99 per hour. Based on a 40 workweek and a 50-week work-year, this works out to $1,240 per week and $62,000 per year. Let's explore how average salaries vary by city, county, job type, age, and other factors.

What is considered a livable wage in 2023?

As of Nov 26, 2023, the average annual pay for a Livable in the United States is $61,362 a year. Just in case you need a simple salary calculator, that works out to be approximately $29.50 an hour. This is the equivalent of $1,180/week or $5,113/month.

What is considered low income for Michigan?

low-income household: income of 80% AMI ($50,240) or less. very low-income household: income of 50% AMI ($31,400) or less.

What is middle class income in Michigan?

In Michigan, you are considered middle class if your household makes $42,544 to $126,996. The median household income is $63,498.

What is an upper class salary in Michigan?

How much does an Upper Class make in Michigan? As of Nov 25, 2023, the average annual pay for an Upper Class in Michigan is $57,220 a year. Just in case you need a simple salary calculator, that works out to be approximately $27.51 an hour. This is the equivalent of $1,100/week or $4,768/month.

How much does the average person make a month in Michigan?

This is equivalent of $949 a week or $4,113 a month. Most salaries in Michigan range between $34,615 (25th percentile) to $61,600 (75th percentile) annually. Of course, salaries will vary depending on yor occupation, experience, and many other factors.

What is a good hourly rate in Michigan?

While ZipRecruiter is seeing salaries as high as $36.88 and as low as $14.88, the majority of Hourly salaries currently range between $21.78 (25th percentile) to $24.33 (75th percentile) in Michigan.

What is the average rent 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.

What is a good monthly income for a single person?

A good monthly income in California is $3,886, based on what the Bureau of Economic Analysis estimates that Californians pay for their cost of living. A good monthly income for you will depend on what your expenses are and how much you typically spend per month.

What is the average cost of a house in Michigan?

The average Michigan home value is $233,858, up 3.3% over the past year and goes to pending in around 10 days.

Is $20 an hour a livable wage?

In general, $20 an hour is not considered a living wage in California. For a working couple with one child, that would be $23.81 an hour and for a single adult with no children, it would be $21.24, according to the Massachusetts Institute of Technology's living wage calculator.

What is a livable yearly salary?

An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is ...

What salary is middle class?

Middle class: The middle class is officially those whose earnings put them in the 40th to 60th percentile of household income. The income range is $55,001 to $89,744. Upper middle class: Anyone with earnings in the 60th to 80th percentile would be considered upper middle class.

How much can you make to qualify for food stamps in Michigan?

What is low income in Michigan 2023?

Extremely Low Income = 0-30%* of AMI Very Low Income = 31%*-50% of AMI Low Income = 51-80% of AMI Middle Income = 81%-100% of AMI Note: *Or poverty guideline, if higher.

What is the monthly income limit for food stamps in Michigan 2023?

What is the richest town in Michigan?

With a population of 72,255, West Bloomfield is considered the richest city in Michigan. The city was founded in 1822, and the name “West Bloomfield” comes from the city being located west of Bloomfield Hills. It is known for its affluence, beautiful homes, and excellent schools.

What is middle class salary 2023?

According to the Pew Research Center's guidelines (two-thirds to double the national media), middle-income Americans would thus have annual incomes between $38,133 and $114,400 in 2023, before adjusting for local cost of living and household size. Read: How to Calculate Your Net Worth.

What is middle class for a single person?

If you're making between $43,350 and $130,000, you're considered middle class. If you're earning $130,000 and above, you're likely considered upper class.

How much do you need to make to be considered upper class?

Based on 2021 data, you would need to earn $149,132 or more to be considered upper class in the U.S. While $149,132 might be a good income in a place like Huntsville, Alabama, it does not provide the same standard of living in other major cities.

Is 150k salary upper class?

Across the entire country, that range is between $47,189 and $141,568, based on Census Bureau income data. But $150,000 is still a middle-class income by Pew's definition in nearly half of the country's 50 most-populated metropolitan areas, where incomes tend to be high.

What is a good salary for upper middle class?

Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range.