Boyne City 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.
IndexBoyne CityMichiganNational
Cost of living index9289100
IndexBoyne CityMichiganNational
Goods & Services index9795100
Groceries index9192100
Health care index10796100
Housing index7573100
Transportation index10397100
Utilities index111100100
Displayed above is a general overview of the Boyne City, MI cost of living index. The overall cost of living index in Boyne City, MI is 92, which is 4% higher than the Michigan average and 8% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Boyne City, MI are 2% higher than the Michigan average and 3% lower than the national average.

Did you know?

  • The cost of living in Boyne City is 4% higher than the Michigan average.
  • The cost of living in Boyne City is 8% lower than the national average.
  • The cost of housing in Boyne City is 25% lower 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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Salary Calculator

This is how much you would need to earn in
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Cost of living index
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Health care index
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The salary calculator allows you to compare how much your current salary in Boyne City, MI would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Boyne City, MI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Boyne City, MI salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,898$4,742$1,328$1,707
Renters$24,750$2,063$577$743
If you want to find a good determining factor for the cost of living and the general affordability of housing in Boyne City, MI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Boyne City, MI, the median monthly income is $56,898 for those who own their own homes. Under the standard rule, that income level would allow for $1,328 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,750, per the median income in the area. That would allow for renters to spend up to $577 on monthly rental expenses.

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 Boyne City, 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

ItemBoyne CityNational avg.Difference
Haircut $10.00$14.5931.5%
Beauty Salon $25.38$34.6826.8%
Toothpaste $1.86$2.4724.8%
Shampoo $0.81$1.0220.7%
Movie $10.00$9.871.3%
Bowling $2.60$4.3940.8%

Groceries

ItemBoyne CityNational avg.Difference
Ground Beef $4.26$4.484.8%
Fried Chicken $1.57$1.467.2%
Milk $2.32$2.361.6%
Potatoes $1.83$3.0640.2%
Pizza $9.00$9.242.6%
Beer $7.41$8.6314.2%

Health Care

ItemBoyne CityNational avg.Difference
Optometrist $61.25$99.7838.6%
Doctor $138.88$105.0332.2%
Dentist $85.52$88.703.6%
Ibuprofen $9.22$9.412.0%
Lipitor $320.38$298.507.3%

Housing

ItemBoyne CityNational avg.Difference
Home Price $135,800.00$175,700.0022.7%
Avg. Mortgage Payment $907.91$1,081.0316.0%
Apartment Rent $650.00$920.0029.3%

Transportation

ItemBoyne CityNational avg.Difference
Gasoline $2.01$2.093.9%
Tire Balancing $56.00$45.2923.7%

Utilities

ItemBoyne CityNational avg.Difference
All Electricity$169.27$170.800.9%
Phone $35.98$28.2627.3%
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.
Ponshewaing, MI2099-1%
Conway, MI30279-21%
Bay Shore, MI68282-18%
Oden, MI60082-18%
East Jordan, MI2,33584-16%
Boyne City, MI3,75392-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Enon, VA3,7521022%
South Duxbury, MA3,75217777%
Cross Plains, WI3,7551088%
Golden Triangle, NJ3,75112020%
West Liberty, IA3,75088-12%
Boyne City, MI3,75392-8%
Source: The Boyne City, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.