Walled Lake 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.
IndexWalled LakeMichiganNational
Cost of living index8989100
IndexWalled LakeMichiganNational
Goods & Services index9695100
Groceries index9092100
Health care index9996100
Housing index7173100
Transportation index9897100
Utilities index105100100
A general overview of the cost of living index for Walled Lake, MI is displayed above. In Walled Lake, MI, the overall cost of living index is 89, which is equal to the Michigan average and 11% 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 Walled Lake, MI, the city's goods and services are 1% higher than the Michigan average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Walled Lake is equal to the Michigan average.
  • The cost of living in Walled Lake is 11% lower than the national average.
  • The cost of housing in Walled Lake is 29% 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 Walled Lake, 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 Walled Lake, 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 Walled Lake, MI, you have to earn a higher income in order to still have the same standard of living. To operate the Walled Lake, 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$60,476$5,040$1,411$1,814
Renters$33,750$2,813$787$1,013
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 Walled Lake, 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. Walled Lake, MI has a median income of about $60,476 for people who own homes. Based on that number, a person should spend a maximum of $1,411 on expenses related to housing. Renters have a slightly different median income, which is $33,750. Based on this average, renters should spend no more than $787 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%
One thing to keep in mind when considering the cost of living in Walled Lake, MI is the Michigan sales tax and Michigan income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Michigan sales tax rate is 6% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Michigan income tax rates range from 4.25% to 4.25%.

Goods & Services

ItemWalled LakeNational avg.Difference
Haircut $16.10$14.5910.3%
Beauty Salon $48.30$34.6839.3%
Toothpaste $1.94$2.4721.6%
Shampoo $0.89$1.0212.9%
Movie $9.93$9.870.6%
Bowling $3.41$4.3922.4%

Groceries

ItemWalled LakeNational avg.Difference
Ground Beef $4.26$4.484.8%
Fried Chicken $1.19$1.4618.7%
Milk $1.97$2.3616.4%
Potatoes $2.74$3.0610.5%
Pizza $9.00$9.242.6%
Beer $8.39$8.632.8%

Health Care

ItemWalled LakeNational avg.Difference
Optometrist $81.50$99.7818.3%
Doctor $106.00$105.030.9%
Dentist $89.30$88.700.7%
Ibuprofen $8.22$9.4112.7%
Lipitor $309.77$298.503.8%

Housing

ItemWalled LakeNational avg.Difference
Home Price $102,300.00$175,700.0041.8%
Avg. Mortgage Payment $927.72$1,081.0314.2%
Apartment Rent $926.00$920.000.7%

Transportation

ItemWalled LakeNational avg.Difference
Gasoline $1.95$2.096.9%
Tire Balancing $50.92$45.2912.4%

Utilities

ItemWalled LakeNational avg.Difference
All Electricity$178.99$170.804.8%
Phone $29.99$28.266.1%
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.
Pontiac, MI59,65881-19%
Dearborn Heights, MI57,06387-13%
Oak Park, MI29,62287-13%
Garden City, MI27,35687-13%
Keego Harbor, MI3,00389-11%
Walled Lake, MI7,06589-11%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Westmere, NY7,06611414%
Latimer, MS7,06694-6%
Huntingdon, PA7,06991-9%
Linwood, NJ7,07112525%
Tappan, NY7,07116262%
Walled Lake, MI7,06589-11%
Source: The Walled Lake, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.