Sherwood 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.
IndexSherwoodMichiganNational
Cost of living index7689100
IndexSherwoodMichiganNational
Goods & Services index8995100
Groceries index8392100
Health care index9596100
Housing index4273100
Transportation index9797100
Utilities index101100100

Did you know?

  • The cost of living in Sherwood is 14% lower than the Michigan average.
  • The cost of living in Sherwood is 24% lower than the national average.
  • The cost of housing in Sherwood is 58% 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 Sherwood, MI Cost of living To Other Cities

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$44,375$3,698$1,035$1,331
Renters$13,750$1,146$321$413

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%

Goods & Services

ItemSherwoodNational 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

ItemSherwoodNational 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

ItemSherwoodNational 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

ItemSherwoodNational avg.Difference
Home Price $52,800.00$175,700.0069.9%
Avg. Mortgage Payment $687.82$1,081.0336.4%
Apartment Rent $642.00$920.0030.2%

Transportation

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

Utilities

ItemSherwoodNational 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.
Burlington, MI27376-24%
Colon, MI1,21478-22%
Union City, MI1,62278-22%
Bronson, MI2,42078-22%
Tekonsha, MI67279-21%
Sherwood, MI31776-24%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Philo, CA31798-2%
Higginsport, OH31780-20%
Northrop, MN31784-16%
Grand View-on-Hudson, NY317218118%
Sand Hill, OK31783-17%
Sherwood, MI31776-24%
Source: The Sherwood, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.