A+
3%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
4%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Walker Michigan National
Cost of living9789100
Goods & Services9093100
Groceries9599100
Health care9493100
Housing10474100
Transportation9597100
Utilities102101100

An Overview of Cost of Living in Walker, MI

The cost of living in Walker affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Walker is 97, which is 3% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Walker aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Walker residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Walker Affordable?

Is Walker affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Walker, the median home price is 9% higher than the national average and monthly rent prices are 8.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Walker boasting a median household income of $63,878, 15.5% higher than the national average.

What Factors can Influence the Cost of Living in Walker?

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Walker, the transportation index stands at 5.1% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Walker, healthcare costs are 6.2% lower than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Walker, the utilities index registers at 2.3% higher than the national average.

Where is the Data From?

The Walker cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Walker is 8% higher than the Michigan average
  • The cost of living in Walker is 3% lower than the national average
  • Walker housing is 4% higher than the national average
  • Michigan general sales tax is 18% higher than the national average
  • Michigan state income tax is 88% higher than the national average

Most Affordable Places to Live in and Around Walker

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Compare Walker, MI Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$81,190$6,766$1,894$2,436
      Renters$40,859$3,405$953$1,226
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Walker, 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 Walker homeowners, is $81,190. This would allow for a maximum of $1,894 per month to be spent on housing costs. For renters, the median monthly income is $40,859 which would result in a maximum of $953 to be spent on rental costs.

      Michigan Sales Tax

      State General Sales Tax With Max Surtax
      Michigan 6% 6%

      Michigan Income Tax

      State Income Tax (Low) Income Tax (High)
      Michigan 4.25% 4.25%

      Goods & Services

      Item Walker National avg. Difference
      Haircut $24.53$24.261.1%
      Beauty Salon $56.27$45.5623.5%
      Toothpaste $3.64$3.701.8%
      Shampoo $1.40$1.289.1%
      Movie $11.22$12.137.5%
      Bowling $22.17$18.0023.1%

      Groceries

      Item Walker National avg. Difference
      Ground Beef $5.51$5.845.7%
      Fried Chicken $1.69$1.577.7%
      Milk $4.84$4.673.6%
      Potatoes $4.77$4.933.3%
      Pizza $10.99$12.099.1%
      Beer $9.38$10.419.9%

      Health Care

      Item Walker National avg. Difference
      Optometrist $91.40$125.6827.3%
      Doctor $139.14$135.782.5%
      Dentist $120.35$113.296.2%
      Ibuprofen $10.88$10.652.1%
      Lipitor $504.80$468.607.7%

      Housing

      Item Walker National avg. Difference
      Home Price $201,300.00$184,700.009.0%
      Avg. Mortgage Payment $2,520.64$2,346.697.4%
      Apartment Rent $867.00$949.008.6%

      Transportation

      Item Walker National avg. Difference
      Gasoline $3.42$3.461.2%
      Tire Balancing $60.57$59.921.1%

      Utilities

      Item Walker National avg. Difference
      All Electricity $180.47$193.997.0%
      Phone $184.98$192.253.8%
      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 Population Cost of Living Index National Avg.
      Ravenna, MI1,4058514.6%
      Sparta, MI4,3908812.3%
      Wyoming, MI75,9999010.4%
      Coopersville, MI4,388909.8%
      Zeeland, MI5,540918.9%
      Walker, MI24,930973.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Belvidere, IL24,9328713.3%
      Wyandotte, MI24,944918.7%
      Paducah, KY24,947909.9%
      Silver Springs Shores, FL24,9118911.0%
      Elk River, MN24,8941054.9%
      Walker, MI24,930973.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.