Westwood 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.
IndexWestwoodMichiganNational
Cost of living index8489100
IndexWestwoodMichiganNational
Goods & Services index8995100
Groceries index8392100
Health care index9596100
Housing index6973100
Transportation index9797100
Utilities index101100100
A general overview of the cost of living index for Westwood, MI is displayed above. In Westwood, MI, the overall cost of living index is 84, which is 5% lower than the Michigan average and 16% 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 Westwood, MI, the city's goods and services are 6% lower than the Michigan average and 11% lower than the U.S. average.

Did you know?

  • The cost of living in Westwood is 5% lower than the Michigan average.
  • The cost of living in Westwood is 16% lower than the national average.
  • The cost of housing in Westwood is 31% 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 Westwood, MI Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Westwood, MI would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Westwood, MI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Westwood, MI salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$59,213$4,934$1,382$1,777
Renters$26,938$2,245$629$808
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Westwood, 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 Westwood, MI homeowners, is $59,213. This would allow for a maximum of $1,382 per month to be spent on housing costs. For renters, the median monthly income is $26,938 which would result in a maximum of $629 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 Westwood, 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

ItemWestwoodNational 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

ItemWestwoodNational 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

ItemWestwoodNational 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

ItemWestwoodNational avg.Difference
Home Price $114,000.00$175,700.0035.1%
Avg. Mortgage Payment $687.82$1,081.0336.4%
Apartment Rent $724.00$920.0021.3%

Transportation

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

Utilities

ItemWestwoodNational 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.
Galesburg, MI1,87678-22%
Gobles, MI76379-21%
Eastwood, MI6,73481-19%
Lawton, MI1,69881-19%
Augusta, MI87081-19%
Westwood, MI9,09184-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Country Club Estates, GA9,09193-7%
Oakbrook, KY9,09192-8%
Craig, CO9,0921044%
Sheffield Lake, OH9,09095-5%
Sturgeon Bay, WI9,09392-8%
Westwood, MI9,09184-16%
Source: The Westwood, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.