Grosse Pointe Farms 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.
IndexGrosse Pointe FarmsMichiganNational
Cost of living index11289100
IndexGrosse Pointe FarmsMichiganNational
Goods & Services index9594100
Groceries index9194100
Health care index94100100
Housing index14473100
Transportation index104101100
Utilities index10996100
A general summary of the cost of living index in Grosse Pointe Farms, MI is shown above. Compared to the state average of Michigan the cost of living index in Grosse Pointe Farms, MI is 112, which is 25% higher than the average in Michigan and compared to the national average it is 12% 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 Grosse Pointe Farms, MI goods and services come in at 1% higher than the average in Michigan and are 5% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Grosse Pointe Farms is 25% higher than the Michigan average.
  • The cost of living in Grosse Pointe Farms is 12% higher than the national average.
  • The cost of housing in Grosse Pointe Farms is 44% 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 Grosse Pointe Farms, MI Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Grosse Pointe Farms, MI to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Grosse Pointe Farms, MI, you have to earn a higher income in order to still have the same standard of living. To operate the Grosse Pointe Farms, MI salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$114,479$9,540$2,671$3,435
Renters$70,787$5,899$1,652$2,124
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Grosse Pointe Farms, 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 Grosse Pointe Farms, MI homeowners, is $114,479. This would allow for a maximum of $2,671 per month to be spent on housing costs. For renters, the median monthly income is $70,787 which would result in a maximum of $1,652 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 you are determining the total cost of living in Grosse Pointe Farms, MI you will want to make sure you consider both the Michigan sales tax and the Michigan income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Michigan is 6%, with the highest surtax being 6%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Michigan have a range from 4.25% to 4.25%.

Goods & Services

ItemGrosse Pointe FarmsNational avg.Difference
Haircut $15.87$15.561.9%
Beauty Salon $50.30$36.1139.3%
Toothpaste $2.03$2.4717.8%
Shampoo $0.77$0.9620.6%
Movie $10.05$10.130.7%
Bowling $3.57$4.7424.5%

Groceries

ItemGrosse Pointe FarmsNational avg.Difference
Ground Beef $3.45$3.9813.3%
Fried Chicken $1.15$1.4118.3%
Milk $1.76$2.0614.9%
Potatoes $3.29$2.9810.3%
Pizza $9.53$9.470.6%
Beer $8.29$8.795.8%

Health Care

ItemGrosse Pointe FarmsNational avg.Difference
Optometrist $70.00$101.0430.7%
Doctor $97.06$107.449.7%
Dentist $88.67$90.421.9%
Ibuprofen $8.21$9.2811.6%
Lipitor $439.15$426.503.0%

Housing

ItemGrosse Pointe FarmsNational avg.Difference
Home Price $249,200.00$175,700.0041.8%
Avg. Mortgage Payment $925.45$1,133.2318.3%
Apartment Rent $1,367.00$920.0048.6%

Transportation

ItemGrosse Pointe FarmsNational avg.Difference
Gasoline $2.04$1.992.5%
Tire Balancing $49.72$45.768.6%

Utilities

ItemGrosse Pointe FarmsNational avg.Difference
All Electricity$175.87$163.817.4%
Phone $31.51$28.3911.0%
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, MI10,95179-21%
Hamtramck, MI22,25679-21%
River Rouge, MI7,76180-20%
Ecorse, MI9,40180-20%
Center Line, MI8,27985-15%
Grosse Pointe Farms, MI9,37111212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bladensburg, MD9,37111717%
Waseca, MN9,37092-8%
Winfield, IL9,36811919%
Fort Oglethorpe, GA9,36888-12%
North College Hill, OH9,36687-13%
Grosse Pointe Farms, MI9,37111212%
Source: The Grosse Pointe Farms, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.