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Michigan Yearly Expenses by Quarter
Category:
State:
Multi-State
Control #:
US-174-AZ
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Word;
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Rich Text
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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.
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.
Average Cost Of Living In Michigan The Great Lakes State has a pretty low cost of living overall, coming in at 89.6, which means the cost of living in Michigan is around 11% below the national average.
Michigan Housing Costs 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.
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.
The cost of living in Michigan is slightly lower than the national average, making it an affordable place to live. The average rent for a studio apartment is around $600 per month, while a one-bedroom costs an average of $700 in the state.
Michigan is 2.6% more expensive than Texas.
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.
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.
