Milford 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.
IndexMilfordMichiganNational
Cost of living index9689100
IndexMilfordMichiganNational
Goods & Services index9594100
Groceries index11094100
Health care index125100100
Housing index8773100
Transportation index99101100
Utilities index9496100
Here we can see a simple outline of the cost of living in Milford, MI. As you can see, with the average cost of living in Milford, MI being 96, that puts it 8% higher than the average of Michigan and 4% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Milford, MI, the price of goods and services are 1% higher than the average of Michigan as well as 5% lower than the nation's average.

Did you know?

  • The cost of living in Milford is 8% higher than the Michigan average.
  • The cost of living in Milford is 4% lower than the national average.
  • The cost of housing in Milford is 13% 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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Compare Milford, MI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
Housing index
Transportation index
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Using the salary calculator lets you compare the salary you earn in Milford, 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 Milford, MI, you have to earn a higher income in order to still have the same standard of living. To operate the Milford, 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$91,667$7,639$2,139$2,750
Renters$34,444$2,870$804$1,033
One can approximate the cost of living and the housing affordability in Milford, 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 Milford, MI have a median income of $91,667. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,139 per month to avoid calamity and poverty. The renters in the city have an income of about $34,444, which would make their monthly maximum allowable rental costs $804.

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 Milford, 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

ItemMilfordNational avg.Difference
Haircut $14.18$15.568.9%
Beauty Salon $46.84$36.1129.7%
Toothpaste $2.53$2.472.5%
Shampoo $1.12$0.9616.0%
Movie $12.29$10.1321.4%
Bowling $4.17$4.7412.0%

Groceries

ItemMilfordNational avg.Difference
Ground Beef $4.22$3.985.8%
Fried Chicken $2.24$1.4159.1%
Milk $2.11$2.062.5%
Potatoes $2.58$2.9813.4%
Pizza $9.62$9.471.6%
Beer $8.70$8.791.1%

Health Care

ItemMilfordNational avg.Difference
Optometrist $100.12$101.040.9%
Doctor $156.76$107.4445.9%
Dentist $121.27$90.4234.1%
Ibuprofen $8.49$9.288.6%
Lipitor $445.93$426.504.6%

Housing

ItemMilfordNational avg.Difference
Home Price $164,100.00$175,700.006.6%
Avg. Mortgage Payment $1,367.76$1,133.2320.7%
Apartment Rent $654.00$920.0028.9%

Transportation

ItemMilfordNational avg.Difference
Gasoline $1.98$1.990.5%
Tire Balancing $44.07$45.763.7%

Utilities

ItemMilfordNational avg.Difference
All Electricity$181.88$163.8111.0%
Phone $20.05$28.3929.4%
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.
Holly, MI6,14290-10%
Fenton, MI11,60193-7%
Walled Lake, MI7,06594-6%
Keego Harbor, MI3,00395-5%
Whitmore Lake, MI6,38093-7%
Milford, MI6,32596-4%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Littlefield, TX6,32578-22%
Bargersville, IN6,32489-11%
Southold, NY6,32315656%
Wimauma, FL6,32790-10%
Johnsburg, IL6,3221099%
Milford, MI6,32596-4%
Source: The Milford, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.