Farmington 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.
IndexFarmington HillsMichiganNational
Cost of living index10189100
IndexFarmington HillsMichiganNational
Goods & Services index9695100
Groceries index9092100
Health care index9996100
Housing index11373100
Transportation index9897100
Utilities index105100100
A general summary of the cost of living index in Farmington Hills, MI is shown above. Compared to the state average of Michigan the cost of living index in Farmington Hills, MI is 101, which is 14% higher than the average in Michigan and compared to the national average it is 1% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Farmington Hills, MI goods and services come in at 1% higher than the average in Michigan and are 4% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Farmington Hills is 14% higher than the Michigan average.
  • The cost of living in Farmington Hills is 1% higher than the national average.
  • The cost of housing in Farmington Hills is 13% 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 Farmington Hills, MI Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Farmington Hills, 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 Farmington Hills, MI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Farmington Hills, 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$93,081$7,757$2,172$2,793
Renters$45,935$3,828$1,072$1,378
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Farmington 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 Farmington Hills, MI homeowners, is $93,081. This would allow for a maximum of $2,172 per month to be spent on housing costs. For renters, the median monthly income is $45,935 which would result in a maximum of $1,072 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%
When considering the overall cost of living expenses in Farmington Hills, MI, it's important to take into account the sales tax for Michigan, as well as the rate for income tax in Michigan. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Michigan is 6%, and the sales tax in the state of Michigan is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Michigan starts from 4.25% and goes up to 4.25%.

Goods & Services

ItemFarmington 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

ItemFarmington 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

ItemFarmington 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

ItemFarmington HillsNational avg.Difference
Home Price $200,100.00$175,700.0013.9%
Avg. Mortgage Payment $927.72$1,081.0314.2%
Apartment Rent $1,019.00$920.0010.8%

Transportation

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

Utilities

ItemFarmington 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%
River Rouge, MI7,76179-21%
Inkster, MI25,05681-19%
Pontiac, MI59,65881-19%
Melvindale, MI10,58482-18%
Farmington Hills, MI80,6821011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Cranston, RI80,68011919%
Parma, OH80,69993-7%
Chino, CA80,81013030%
Mission, TX80,53873-27%
Merced, CA80,4901011%
Farmington Hills, MI80,6821011%
Source: The Farmington 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.