Three Rivers 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.
IndexThree RiversMichiganNational
Cost of living index7889100
IndexThree RiversMichiganNational
Goods & Services index8995100
Groceries index8392100
Health care index9596100
Housing index4973100
Transportation index9797100
Utilities index101100100
Here we can see a simple outline of the cost of living in Three Rivers, MI. As you can see, with the average cost of living in Three Rivers, MI being 78, that puts it 12% lower than the average of Michigan and 22% 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 Three Rivers, MI, the price of goods and services are 6% lower than the average of Michigan as well as 11% lower than the nation's average.

Did you know?

  • The cost of living in Three Rivers is 12% lower than the Michigan average.
  • The cost of living in Three Rivers is 22% lower than the national average.
  • The cost of housing in Three Rivers is 51% 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 Three Rivers, MI Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Three Rivers, 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 Three Rivers, MI, you have to earn a higher income in order to still have the same standard of living. To operate the Three Rivers, 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$44,004$3,667$1,027$1,320
Renters$21,219$1,768$495$637
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 Three Rivers, 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. Three Rivers, MI has a median income of about $44,004 for people who own homes. Based on that number, a person should spend a maximum of $1,027 on expenses related to housing. Renters have a slightly different median income, which is $21,219. Based on this average, renters should spend no more than $495 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 Three Rivers, 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

ItemThree RiversNational 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

ItemThree RiversNational 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

ItemThree RiversNational 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

ItemThree RiversNational avg.Difference
Home Price $71,500.00$175,700.0059.3%
Avg. Mortgage Payment $687.82$1,081.0336.4%
Apartment Rent $627.00$920.0031.8%

Transportation

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

Utilities

ItemThree RiversNational 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.
Vandalia, MI32276-24%
Constantine, MI1,76079-21%
White Pigeon, MI1,52879-21%
Marcellus, MI1,02480-20%
Sturgis, MI10,92380-20%
Three Rivers, MI7,76578-22%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ormond-by-the-Sea, FL7,7641011%
Bernardsville, NJ7,76616868%
Wyoming, MN7,7641055%
River Rouge, MI7,76179-21%
Montpelier, VT7,76011313%
Three Rivers, MI7,76578-22%
Source: The Three Rivers, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.