Gladstone 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.
IndexGladstoneMichiganNational
Cost of living index8489100
IndexGladstoneMichiganNational
Goods & Services index9795100
Groceries index9192100
Health care index10796100
Housing index4873100
Transportation index10397100
Utilities index111100100
An overview of the general cost of living index for Gladstone, MI is displayed above for your reference. Residents in Gladstone, MI enjoy a cost of living index of 84. This index is 5% lower than the Michigan average, and 16% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Gladstone, MI, the average cost of goods and services is 2% higher than it is in Michigan, and it is 3% lower than the national average.

Did you know?

  • The cost of living in Gladstone is 5% lower than the Michigan average.
  • The cost of living in Gladstone is 16% lower than the national average.
  • The cost of housing in Gladstone is 52% 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

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The salary calculator allows you to compare how much your current salary in Gladstone, 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 Gladstone, MI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Gladstone, 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$53,284$4,440$1,243$1,599
Renters$30,212$2,518$705$906
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Gladstone, MI, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Gladstone, MI homeowners have a median income of $53,284. Using that number, you will come up with a maximum of $1,243 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $30,212, which means there is a maximum of $705 to be spent on the costs of renting a home or apartment.

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%
When assessing the complete cost of living in Gladstone, MI, the Michigan income tax and the Michigan sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Michigan maximum surtax is 6%, and the Michigan sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4.25% to 4.25% in Michigan.

Goods & Services

ItemGladstoneNational 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

ItemGladstoneNational 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

ItemGladstoneNational 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

ItemGladstoneNational avg.Difference
Home Price $79,900.00$175,700.0054.5%
Avg. Mortgage Payment $907.91$1,081.0316.0%
Apartment Rent $506.00$920.0045.0%

Transportation

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

Utilities

ItemGladstoneNational 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.
Escanaba, MI12,52984-16%
Gladstone, MI4,92084-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Avra Valley, AZ4,91987-13%
Palos Park, IL4,91912323%
Kaser, NY4,91915050%
Duryea, PA4,91894-6%
Nashville, GA4,91881-19%
Gladstone, MI4,92084-16%
Source: The Gladstone, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.