Huntington Woods 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.
IndexHuntington WoodsMichiganNational
Cost of living index12189100
IndexHuntington WoodsMichiganNational
Goods & Services index10994100
Groceries index10194100
Health care index111100100
Housing index16173100
Transportation index103101100
Utilities index9496100
A general overview of the cost of living index for Huntington Woods, MI is displayed above. In Huntington Woods, MI, the overall cost of living index is 121, which is 36% higher than the Michigan average and 21% higher 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 Huntington Woods, MI, the city's goods and services are 15% higher than the Michigan average and 9% higher than the U.S. average.

Did you know?

  • The cost of living in Huntington Woods is 36% higher than the Michigan average.
  • The cost of living in Huntington Woods is 21% higher than the national average.
  • The cost of housing in Huntington Woods is 61% 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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Salary Calculator

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Use the salary calculator to compare your current salary in Huntington Woods, 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 Huntington Woods, MI, then you would need to earn more income in order to maintain the same standard of living. To use the Huntington Woods, 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$115,500$9,625$2,695$3,465
Renters$72,604$6,050$1,694$2,178
One can approximate the cost of living and the housing affordability in Huntington Woods, MI by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Huntington Woods, MI have a median income of $115,500. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,695 per month to avoid calamity and poverty. The renters in the city have an income of about $72,604, which would make their monthly maximum allowable rental costs $1,694.

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 Huntington Woods, 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

ItemHuntington WoodsNational avg.Difference
Haircut $18.34$15.5617.9%
Beauty Salon $41.74$36.1115.6%
Toothpaste $2.96$2.4719.7%
Shampoo $0.73$0.9624.0%
Movie $11.00$10.138.6%
Bowling $3.58$4.7424.4%

Groceries

ItemHuntington WoodsNational avg.Difference
Ground Beef $4.51$3.9813.2%
Fried Chicken $2.02$1.4143.3%
Milk $1.93$2.066.3%
Potatoes $3.31$2.9811.0%
Pizza $9.65$9.471.9%
Beer $7.81$8.7911.2%

Health Care

ItemHuntington WoodsNational avg.Difference
Optometrist $84.26$101.0416.6%
Doctor $139.39$107.4429.7%
Dentist $100.94$90.4211.6%
Ibuprofen $8.20$9.2811.7%
Lipitor $439.61$426.503.1%

Housing

ItemHuntington WoodsNational avg.Difference
Home Price $266,100.00$175,700.0051.5%
Avg. Mortgage Payment $1,166.18$1,133.232.9%
Apartment Rent $1,688.00$920.0083.5%

Transportation

ItemHuntington WoodsNational avg.Difference
Gasoline $1.94$1.992.7%
Tire Balancing $53.61$45.7617.2%

Utilities

ItemHuntington WoodsNational avg.Difference
All Electricity$182.66$163.8111.5%
Phone $20.00$28.3929.5%
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%
Center Line, MI8,27985-15%
Detroit, MI695,43781-19%
Huntington Woods, MI6,31012121%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Las Flores, CA6,31116868%
Cheverly, MD6,30712828%
Rushville, IN6,31475-25%
Ephraim, UT6,30393-7%
Islamorada, Village of Islands, FL6,31815353%
Huntington Woods, MI6,31012121%
Source: The Huntington Woods, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.