Beverly Hills cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBeverly HillsMichiganNational
Cost of living index11389100
IndexBeverly HillsMichiganNational
Goods & Services index9695100
Groceries index9092100
Health care index9996100
Housing index15073100
Transportation index9897100
Utilities index105100100
Here we can see a simple outline of the cost of living in Beverly Hills, MI. As you can see, with the average cost of living in Beverly Hills, MI being 113, that puts it 27% higher than the average of Michigan and 13% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Beverly Hills, MI, the price of goods and services are 1% higher than the average of Michigan as well as 4% lower than the nation's average.

Did you know?

  • The cost of living in Beverly Hills is 27% higher than the Michigan average.
  • The cost of living in Beverly Hills is 13% higher than the national average.
  • The cost of housing in Beverly Hills is 50% higher than the national average.
  • Michigan general sales tax is 18% higher than the national average.
  • Michigan state income tax is 91% higher than the national average.

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Compare Beverly Hills, MI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Beverly Hills, MI to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Beverly Hills, MI, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Beverly Hills, MI salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$108,750$9,063$2,537$3,263
Renters$54,226$4,519$1,265$1,627
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Beverly Hills, MI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Beverly Hills, MI homeowners, is $108,750. This would allow for a maximum of $2,537 per month to be spent on housing costs. For renters, the median monthly income is $54,226 which would result in a maximum of $1,265 to be spent on rental costs.

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%
One thing to keep in mind when considering the cost of living in Beverly Hills, MI is the Michigan sales tax and Michigan income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Michigan sales tax rate is 6% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Michigan income tax rates range from 4.25% to 4.25%.

Goods & Services

ItemBeverly HillsNational avg.Difference
Haircut $16.10$14.5910.3%
Beauty Salon $48.30$34.6839.3%
Toothpaste $1.94$2.4721.6%
Shampoo $0.89$1.0212.9%
Movie $9.93$9.870.6%
Bowling $3.41$4.3922.4%

Groceries

ItemBeverly HillsNational avg.Difference
Ground Beef $4.26$4.484.8%
Fried Chicken $1.19$1.4618.7%
Milk $1.97$2.3616.4%
Potatoes $2.74$3.0610.5%
Pizza $9.00$9.242.6%
Beer $8.39$8.632.8%

Health Care

ItemBeverly HillsNational avg.Difference
Optometrist $81.50$99.7818.3%
Doctor $106.00$105.030.9%
Dentist $89.30$88.700.7%
Ibuprofen $8.22$9.4112.7%
Lipitor $309.77$298.503.8%

Housing

ItemBeverly HillsNational avg.Difference
Home Price $269,200.00$175,700.0053.2%
Avg. Mortgage Payment $927.72$1,081.0314.2%
Apartment Rent $1,311.00$920.0042.5%

Transportation

ItemBeverly HillsNational avg.Difference
Gasoline $1.95$2.096.9%
Tire Balancing $50.92$45.2912.4%

Utilities

ItemBeverly HillsNational avg.Difference
All Electricity$178.99$170.804.8%
Phone $29.99$28.266.1%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Highland Park, MI10,95178-22%
Hamtramck, MI22,25678-22%
Center Line, MI8,27980-20%
Detroit, MI695,43780-20%
Pontiac, MI59,65881-19%
Beverly Hills, MI10,36811313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Westview, FL10,36597-3%
Celina, OH10,37490-10%
Eureka, MO10,3751066%
Madison Heights, VA10,35988-12%
Reading, OH10,35787-13%
Beverly Hills, MI10,36811313%
Source: The Beverly Hills, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.