Roosevelt 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.
IndexRoosevelt ParkMichiganNational
Cost of living index8689100
IndexRoosevelt ParkMichiganNational
Goods & Services index10195100
Groceries index9492100
Health care index9596100
Housing index5973100
Transportation index9797100
Utilities index96100100
Here we can see a simple outline of the cost of living in Roosevelt Park, MI. As you can see, with the average cost of living in Roosevelt Park, MI being 86, that puts it 3% lower than the average of Michigan and 14% 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 Roosevelt Park, MI, the price of goods and services are 6% higher than the average of Michigan as well as 1% higher than the nation's average.

Did you know?

  • The cost of living in Roosevelt Park is 3% lower than the Michigan average.
  • The cost of living in Roosevelt Park is 14% lower than the national average.
  • The cost of housing in Roosevelt Park is 41% 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 Roosevelt Park, MI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Roosevelt Park, MI to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Roosevelt Park, MI, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Roosevelt Park, MI salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$49,883$4,157$1,164$1,497
Renters$24,588$2,049$574$738
If you want to find a good determining factor for the cost of living and the general affordability of housing in Roosevelt Park, MI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Roosevelt Park, MI, the median monthly income is $49,883 for those who own their own homes. Under the standard rule, that income level would allow for $1,164 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,588, per the median income in the area. That would allow for renters to spend up to $574 on monthly rental expenses.

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%
For those who live in Roosevelt Park, MI and want to know what the true cost of living is, they ought to look at both the Michigan income tax rate and the Michigan sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Michigan, the sales tax is 6%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Michigan, the income tax rate ranges between 4.25% to 4.25%.

Goods & Services

ItemRoosevelt ParkNational avg.Difference
Haircut $16.00$14.599.6%
Beauty Salon $35.00$34.680.9%
Toothpaste $1.72$2.4730.5%
Shampoo $0.98$1.024.1%
Movie $10.15$9.872.9%
Bowling $4.27$4.392.8%

Groceries

ItemRoosevelt ParkNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.19$1.4618.7%
Milk $2.45$2.364.0%
Potatoes $2.82$3.067.9%
Pizza $8.96$9.243.1%
Beer $9.04$8.634.7%

Health Care

ItemRoosevelt ParkNational avg.Difference
Optometrist $84.50$99.7815.3%
Doctor $94.00$105.0310.5%
Dentist $79.67$88.7010.2%
Ibuprofen $8.48$9.419.9%
Lipitor $342.99$298.5014.9%

Housing

ItemRoosevelt ParkNational avg.Difference
Home Price $92,600.00$175,700.0047.3%
Avg. Mortgage Payment $849.65$1,081.0321.4%
Apartment Rent $685.00$920.0025.5%

Transportation

ItemRoosevelt ParkNational avg.Difference
Gasoline $1.95$2.096.8%
Tire Balancing $48.00$45.296.0%

Utilities

ItemRoosevelt ParkNational avg.Difference
All Electricity$159.83$170.806.4%
Phone $27.99$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.
Muskegon Heights, MI10,80780-20%
Muskegon, MI37,82282-18%
Whitehall, MI2,69485-15%
Lakewood Club, MI1,20086-14%
Montague, MI2,26387-13%
Roosevelt Park, MI3,81786-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mount Orab, OH3,81985-15%
Calcutta, OH3,81582-18%
Jackson, LA3,81980-20%
Crittenden, KY3,81987-13%
Owego, NY3,81990-10%
Roosevelt Park, MI3,81786-14%
Source: The Roosevelt 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.