Buchanan 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.
Cost of living index8388100
Goods & Services index9793100
Groceries index9391100
Health care index10194100
Housing index5774100
Transportation index98103100
Utilities index8491100
The above illustration supplies generalized information for the Buchanan, MI cost of living index. Compared to other cities in Michigan and cities across the country, the cost of living index in Buchanan, MI is 83, which is 5% lower than the Michigan average and 17% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Buchanan, MI are 4% higher than the average for Michigan and 3% lower than the rest of the country.

Did you know?

  • The cost of living in Buchanan is 5% lower than the Michigan average.
  • The cost of living in Buchanan is 17% lower than the national average.
  • The cost of housing in Buchanan is 43% 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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Salary Calculator

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
The salary calculator is used in order to provide a comparison of your current salary in Buchanan, MI to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Buchanan, MI, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Buchanan, MI salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
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 Buchanan, 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. Buchanan, MI has a median income of about $59,924 for people who own homes. Based on that number, a person should spend a maximum of $1,398 on expenses related to housing. Renters have a slightly different median income, which is $17,008. Based on this average, renters should spend no more than $397 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

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
When assessing the complete cost of living in Buchanan, MI, the Michigan income tax and the Michigan sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Michigan maximum surtax is 6%, and the Michigan sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4.25% to 4.25% in Michigan.

Goods & Services

ItemBuchananNational avg.Difference
Haircut $14.66$16.098.8%
Beauty Salon $31.33$37.3316.1%
Toothpaste $2.01$2.4518.0%
Shampoo $0.79$1.0021.0%
Movie $7.62$10.2825.8%
Bowling $3.00$4.9339.1%


ItemBuchananNational avg.Difference
Ground Beef $2.97$3.8022.0%
Fried Chicken $1.28$1.408.4%
Milk $1.80$2.0110.5%
Potatoes $3.19$3.016.0%
Pizza $9.82$9.890.6%
Beer $8.63$8.903.0%

Health Care

ItemBuchananNational avg.Difference
Optometrist $110.67$102.168.3%
Doctor $115.00$108.366.1%
Dentist $89.94$92.532.8%
Ibuprofen $8.27$9.2810.9%
Lipitor $428.46$425.820.6%


ItemBuchananNational avg.Difference
Home Price $105,900.00$184,700.0042.7%
Avg. Mortgage Payment $1,315.59$1,202.449.4%
Apartment Rent $541.00$949.0043.0%


ItemBuchananNational avg.Difference
Gasoline $2.25$2.240.5%
Tire Balancing $43.33$46.296.4%


ItemBuchananNational avg.Difference
All Electricity$134.83$165.9618.8%
Phone $25.07$28.6812.6%
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.
Dowagiac, MI5,86378-22%
Niles, MI11,37981-19%
New Troy, MI74180-20%
Roseland, IN48982-18%
Edwardsburg, MI1,26987-13%
Buchanan, MI4,38883-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Reidland, KY4,38894-6%
Santa Teresa, NM4,38890-10%
Lake Wisconsin, WI4,38811515%
Edgewood, OH4,38989-11%
Rogersville, TN4,38986-14%
Buchanan, MI4,38883-17%
Source: The Buchanan, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.