Waverly 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.
IndexWaverlyMichiganNational
Cost of living index9389100
IndexWaverlyMichiganNational
Goods & Services index10195100
Groceries index9492100
Health care index9596100
Housing index8173100
Transportation index9797100
Utilities index96100100
Displayed above is a general overview of the Waverly, MI cost of living index. The overall cost of living index in Waverly, MI is 93, which is 4% higher than the Michigan average and 7% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Waverly, MI are 6% higher than the Michigan average and 1% higher than the national average.

Did you know?

  • The cost of living in Waverly is 4% higher than the Michigan average.
  • The cost of living in Waverly is 7% lower than the national average.
  • The cost of housing in Waverly is 19% 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 Waverly, MI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
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Health care index
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Using the salary calculator lets you compare the salary you earn in Waverly, 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 Waverly, MI, you have to earn a higher income in order to still have the same standard of living. To operate the Waverly, 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$72,500$6,042$1,692$2,175
Renters$36,216$3,018$845$1,087
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Waverly, MI, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Waverly, MI homeowners have a median income of $72,500. Using that number, you will come up with a maximum of $1,692 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $36,216, which means there is a maximum of $845 to be spent on the costs of renting a home or apartment.

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 Waverly, 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

ItemWaverlyNational avg.Difference
Haircut $16.00$14.599.6%
Beauty Salon $35.00$34.680.9%
Toothpaste $1.72$2.4730.5%
Shampoo $0.98$1.024.1%
Movie $10.15$9.872.9%
Bowling $4.27$4.392.8%

Groceries

ItemWaverlyNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.19$1.4618.7%
Milk $2.45$2.364.0%
Potatoes $2.82$3.067.9%
Pizza $8.96$9.243.1%
Beer $9.04$8.634.7%

Health Care

ItemWaverlyNational avg.Difference
Optometrist $84.50$99.7815.3%
Doctor $94.00$105.0310.5%
Dentist $79.67$88.7010.2%
Ibuprofen $8.48$9.419.9%
Lipitor $342.99$298.5014.9%

Housing

ItemWaverlyNational avg.Difference
Home Price $138,200.00$175,700.0021.3%
Avg. Mortgage Payment $849.65$1,081.0321.4%
Apartment Rent $795.00$920.0013.6%

Transportation

ItemWaverlyNational avg.Difference
Gasoline $1.95$2.096.8%
Tire Balancing $48.00$45.296.0%

Utilities

ItemWaverlyNational avg.Difference
All Electricity$159.83$170.806.4%
Phone $27.99$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.
Potterville, MI2,62180-20%
Lansing, MI114,38285-15%
Mulliken, MI58887-13%
Edgemont Park, MI2,24287-13%
Eagle, MI14788-12%
Waverly, MI24,47093-7%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Edwardsville, IL24,4641011%
Seal Beach, CA24,47712828%
Starkville, MS24,45788-12%
San Benito, TX24,44770-30%
Ramsey, MN24,44111111%
Waverly, MI24,47093-7%
Source: The Waverly, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.