Farmington 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.
IndexFarmingtonMichiganNational
Cost of living index9589100
IndexFarmingtonMichiganNational
Goods & Services index9695100
Groceries index9092100
Health care index9996100
Housing index9073100
Transportation index9897100
Utilities index105100100
A general overview of the cost of living index for Farmington, MI is displayed above. In Farmington, MI, the overall cost of living index is 95, which is 7% higher than the Michigan average and 5% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Farmington, MI, the city's goods and services are 1% higher than the Michigan average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Farmington is 7% higher than the Michigan average.
  • The cost of living in Farmington is 5% lower than the national average.
  • The cost of housing in Farmington is 10% 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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Groceries index
Health care index
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The salary calculator is meant to help you compare your salary in Farmington, 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 Farmington, MI, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Farmington, 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$74,007$6,167$1,727$2,220
Renters$51,818$4,318$1,209$1,555
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Farmington, 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, MI homeowners, is $74,007. This would allow for a maximum of $1,727 per month to be spent on housing costs. For renters, the median monthly income is $51,818 which would result in a maximum of $1,209 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%
For those who live in Farmington, MI and want to know what the true cost of living is, they ought to look at both the Michigan income tax rate and the Michigan sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Michigan, the sales tax is 6%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Michigan, the income tax rate ranges between 4.25% to 4.25%.

Goods & Services

ItemFarmingtonNational 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

ItemFarmingtonNational 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

ItemFarmingtonNational 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

ItemFarmingtonNational avg.Difference
Home Price $152,600.00$175,700.0013.1%
Avg. Mortgage Payment $927.72$1,081.0314.2%
Apartment Rent $910.00$920.001.1%

Transportation

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

Utilities

ItemFarmingtonNational 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%
Ecorse, MI9,40179-21%
Inkster, MI25,05681-19%
Pontiac, MI59,65881-19%
Farmington, MI10,47295-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fairmont, MN10,47490-10%
Exeter, CA10,4681022%
Wood River, IL10,47787-13%
Wyomissing, PA10,46711212%
Summerfield, NC10,47712525%
Farmington, MI10,47295-5%
Source: The Farmington, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.