Hastings 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.
IndexHastingsMichiganNational
Cost of living index8289100
IndexHastingsMichiganNational
Goods & Services index8995100
Groceries index8392100
Health care index9596100
Housing index6273100
Transportation index9797100
Utilities index101100100
A general overview of the cost of living index for Hastings, MI is displayed above. In Hastings, MI, the overall cost of living index is 82, which is 7% lower than the Michigan average and 18% 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 Hastings, MI, the city's goods and services are 6% lower than the Michigan average and 11% lower than the U.S. average.

Did you know?

  • The cost of living in Hastings is 7% lower than the Michigan average.
  • The cost of living in Hastings is 18% lower than the national average.
  • The cost of housing in Hastings is 38% 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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Use the salary calculator to compare your current salary in Hastings, MI to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Hastings, MI, then you would need to earn more income in order to maintain the same standard of living. To use the Hastings, MI salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$50,344$4,195$1,175$1,510
Renters$24,861$2,072$580$746
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Hastings, 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 Hastings, MI homeowners have a median income of $50,344. Using that number, you will come up with a maximum of $1,175 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $24,861, which means there is a maximum of $580 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 Hastings, 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

ItemHastingsNational avg.Difference
Haircut $14.95$14.592.4%
Beauty Salon $18.31$34.6847.2%
Toothpaste $1.67$2.4732.5%
Shampoo $0.85$1.0216.8%
Movie $7.85$9.8720.5%
Bowling $3.20$4.3927.1%

Groceries

ItemHastingsNational avg.Difference
Ground Beef $3.65$4.4818.5%
Fried Chicken $1.14$1.4622.1%
Milk $2.61$2.3610.7%
Potatoes $2.40$3.0621.6%
Pizza $9.00$9.242.6%
Beer $8.10$8.636.2%

Health Care

ItemHastingsNational avg.Difference
Optometrist $57.14$99.7842.7%
Doctor $88.50$105.0315.7%
Dentist $95.43$88.707.6%
Ibuprofen $8.10$9.4113.9%
Lipitor $301.16$298.500.9%

Housing

ItemHastingsNational avg.Difference
Home Price $95,100.00$175,700.0045.9%
Avg. Mortgage Payment $687.82$1,081.0336.4%
Apartment Rent $733.00$920.0020.3%

Transportation

ItemHastingsNational avg.Difference
Gasoline $1.93$2.097.9%
Tire Balancing $49.66$45.299.7%

Utilities

ItemHastingsNational avg.Difference
All Electricity$173.63$170.801.7%
Phone $28.01$28.260.9%
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.
Nashville, MI1,76478-22%
Bellevue, MI1,30479-21%
Woodland, MI42184-16%
Vermontville, MI78280-20%
Lake Odessa, MI1,94985-15%
Hastings, MI7,31382-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Pikeville, KY7,31394-6%
Mead, WA7,31494-6%
Logan, OH7,31482-18%
Ancient Oaks, PA7,31212727%
Parkwood, WA7,31211212%
Hastings, MI7,31382-18%
Source: The Hastings, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.