Oak Park 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.
IndexOak ParkMichiganNational
Cost of living index8789100
IndexOak ParkMichiganNational
Goods & Services index9695100
Groceries index9092100
Health care index9996100
Housing index6473100
Transportation index9897100
Utilities index105100100
An overview of the general cost of living index for Oak Park, MI is displayed above for your reference. Residents in Oak Park, MI enjoy a cost of living index of 87. This index is 2% lower than the Michigan average, and 13% 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 Oak Park, MI, the average cost of goods and services is 1% higher than it is in Michigan, and it is 4% lower than the national average.

Did you know?

  • The cost of living in Oak Park is 2% lower than the Michigan average.
  • The cost of living in Oak Park is 13% lower than the national average.
  • The cost of housing in Oak Park is 36% 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 Oak Park, MI Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Transportation index
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The salary calculator allows you to compare how much your current salary in Oak Park, 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 Oak Park, MI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Oak Park, 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$61,289$5,107$1,430$1,839
Renters$34,293$2,858$800$1,029
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Oak Park, MI, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Oak Park, MI has a median income of about $61,289 for people who own homes. Based on that number, a person should spend a maximum of $1,430 on expenses related to housing. Renters have a slightly different median income, which is $34,293. Based on this average, renters should spend no more than $800 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Oak Park, 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

ItemOak ParkNational avg.Difference
Haircut $16.10$14.5910.3%
Beauty Salon $48.30$34.6839.3%
Toothpaste $1.94$2.4721.6%
Shampoo $0.89$1.0212.9%
Movie $9.93$9.870.6%
Bowling $3.41$4.3922.4%

Groceries

ItemOak ParkNational avg.Difference
Ground Beef $4.26$4.484.8%
Fried Chicken $1.19$1.4618.7%
Milk $1.97$2.3616.4%
Potatoes $2.74$3.0610.5%
Pizza $9.00$9.242.6%
Beer $8.39$8.632.8%

Health Care

ItemOak ParkNational avg.Difference
Optometrist $81.50$99.7818.3%
Doctor $106.00$105.030.9%
Dentist $89.30$88.700.7%
Ibuprofen $8.22$9.4112.7%
Lipitor $309.77$298.503.8%

Housing

ItemOak ParkNational avg.Difference
Home Price $79,800.00$175,700.0054.6%
Avg. Mortgage Payment $927.72$1,081.0314.2%
Apartment Rent $993.00$920.007.9%

Transportation

ItemOak ParkNational avg.Difference
Gasoline $1.95$2.096.9%
Tire Balancing $50.92$45.2912.4%

Utilities

ItemOak ParkNational avg.Difference
All Electricity$178.99$170.804.8%
Phone $29.99$28.266.1%
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, MI10,95178-22%
Hamtramck, MI22,25678-22%
River Rouge, MI7,76179-21%
Ecorse, MI9,40179-21%
Center Line, MI8,27980-20%
Oak Park, MI29,62287-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Burlingame, CA29,618218118%
Statesboro, GA29,63088-12%
Fleming Island, FL29,65611212%
Clermont, FL29,5821011%
Needham, MA29,54018282%
Oak Park, MI29,62287-13%
Source: The Oak Park, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.