Cadillac cost of living index

Here we can see a simple outline of the cost of living in Cadillac, MI. As you can see, with the average cost of living in Cadillac, MI being 83, that puts it 6% lower than the average of Michigan and 17% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Cadillac, MI, the price of goods and services are 5% higher than the average of Michigan as well as 3% lower than the nation's average.

Find Real Estate Listings In Cadillac

New Real Estate Listings In Cadillac

Real Estate Listings In Cadillac

The best places in Michigan

Salary Calculator

The salary calculator is used in order to provide a comparison of your current salary in Cadillac, 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 Cadillac, MI, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Cadillac, 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

One can approximate the cost of living and the housing affordability in Cadillac, MI by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Cadillac, MI have a median income of $42,374. Therefore, the amount that a consumer should spend on housing costs should be no more than $989 per month to avoid calamity and poverty. The renters in the city have an income of about $24,009, which would make their monthly maximum allowable rental costs $560.

Michigan Sales Tax

Michigan Income Tax

One thing to keep in mind when considering the cost of living in Cadillac, 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

Groceries

Health Care

Housing

Transportation

Utilities

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

Cities with similar population

Source: The Cadillac, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.