| Index | Beverly Hills | Michigan | National |
| Cost of living | 126 | 91 | 100 |
| Groceries | 96 | 98 | 100 |
| Health care | 97 | 97 | 100 |
| Housing | 194 | 76 | 100 |
| Transportation | 95 | 96 | 100 |
| Utilities | 100 | 100 | 100 |
| Lifestyle & Entertainment | 97 | 96 | 100 |
| Household Items | 100 | 98 | 100 |
| Education & Childcare | 94 | 95 | 100 |
Knowing the cost of living in Beverly Hills allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Beverly Hills stands at 126, marking it 26% higher than the national average.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Beverly Hills is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Beverly Hills falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a very significant part of the Beverly Hills cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 93.8% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Beverly Hills an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Beverly Hills is 122.8% higher than the national average, while the average monthly rent prices are 26.2% higher than average. The affordability of any location can also be influenced by median income levels. Beverly Hills has a median household income of $194,088, which is 138.6% higher than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Beverly Hills, the transportation index is 5.3% lower than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Beverly Hills, the groceries index is 3.6% lower than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Beverly Hills, the housing index is 93.8% higher than the national average.
The cost of living estimates displayed for Beverly Hills are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $200,244 | $16,687 | $4,672 | $6,008 |
| Renters | $105,523 | $8,794 | $2,462 | $3,166 |
| State | General Sales Tax | With Max Surtax |
| Michigan | 6% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Michigan | 4.25% | 4.25% |
| City | Population | Cost of Living Index | National Avg. |
| Highland Park, MI | 11,056 | 80 | 20.3% |
| Detroit, MI | 692,044 | 82 | 17.6% |
| Hamtramck, MI | 22,199 | 84 | 16.2% |
| Pontiac, MI | 61,764 | 84 | 16.2% |
| Center Line, MI | 8,398 | 86 | 14.0% |
| Beverly Hills, MI | 10,767 | 126 | 25.9% |
| City | Population | Cost of Living Index | National Avg. |
| Big Rapids, MI | 10,768 | 86 | 14.0% |
| Bedford Heights, OH | 10,768 | 87 | 12.8% |
| Van Wert, OH | 10,770 | 84 | 16.2% |
| Tay, ON | 10,774 | n/a | |
| Prineville, OR | 10,775 | 105 | 5.2% |
| Beverly Hills, MI | 10,767 | 126 | 25.9% |
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