South Lyon 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.
IndexSouth LyonMichiganNational
Cost of living index9589100
IndexSouth LyonMichiganNational
Goods & Services index9594100
Groceries index11094100
Health care index125100100
Housing index8473100
Transportation index99101100
Utilities index9496100
A general overview of the cost of living index for South Lyon, MI is displayed above. In South Lyon, MI, the overall cost of living index is 95, which is 7% higher than the Michigan average and 5% lower 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 South Lyon, MI, the city's goods and services are 1% higher than the Michigan average and 5% lower than the U.S. average.

Did you know?

  • The cost of living in South Lyon is 7% higher than the Michigan average.
  • The cost of living in South Lyon is 5% lower than the national average.
  • The cost of housing in South Lyon is 16% 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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Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in South Lyon, MI to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to South Lyon, MI, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the South Lyon, MI salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$74,857$6,238$1,747$2,246
Renters$29,762$2,480$694$893
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in South Lyon, MI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for South Lyon, MI homeowners, is $74,857. This would allow for a maximum of $1,747 per month to be spent on housing costs. For renters, the median monthly income is $29,762 which would result in a maximum of $694 to be spent on rental costs.

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 South Lyon, 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

ItemSouth LyonNational 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

ItemSouth LyonNational 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

ItemSouth LyonNational 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

ItemSouth LyonNational avg.Difference
Home Price $145,900.00$175,700.0017.0%
Avg. Mortgage Payment $1,367.76$1,133.2320.7%
Apartment Rent $787.00$920.0014.5%

Transportation

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

Utilities

ItemSouth LyonNational 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.
Wayne, MI17,31484-16%
Westland, MI83,18887-13%
Walled Lake, MI7,06594-6%
Howell, MI9,54392-8%
Whitmore Lake, MI6,38093-7%
South Lyon, MI11,51495-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Irmo, SC11,51899-1%
Ocean City, NJ11,52015151%
Haddonfield, NJ11,52114545%
Yeadon, PA11,5061044%
La Riviera, CA11,52911111%
South Lyon, MI11,51495-5%
Source: The South Lyon, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.