Cost of Living in Charlotte, MI

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14%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
37%
Housing NAT. AVG.
Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Charlotte Michigan National
Cost of living8691100
Goods & Services9496100
Groceries9899100
Health care8792100
Housing6376100
Transportation97100100
Utilities9797100
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Homes For Sale In Charlotte, MI

property for sale

420 E Henry St

Charlotte, MI
property for sale

310 Horatio St

Charlotte, MI
property for sale

138 Canterbury Dr

Charlotte, MI
property for sale

422 W Seminary St

Charlotte, MI
See the Newest Homes For Sale In Charlotte, MI

Cost Of Living Quick Facts

  • The cost of living in Charlotte is 6% lower than the Michigan average
  • The cost of living in Charlotte is 14% lower than the national average
  • Charlotte housing is 37% lower than the national average
  • Michigan general sales tax is 18% higher than the national average
  • Michigan state income tax is 64% higher than the national average

Most Affordable Places to Live in and Around Charlotte

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Compare Charlotte, MI Cost of Living

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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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$100,523$8,377$2,345$3,016
      Renters$57,918$4,827$1,351$1,738
      A good way to judge both the affordability of the housing and the cost of living in Charlotte is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Charlotte has a median income of about $100,523 for people who own homes. Based on that number, a maximum of $2,345 should be spent on expenses related to housing. Renters have a slightly different median income, which is $57,918. Based on this average, renters should spend no more than $1,351 on all rental costs if they want to maintain a non-impoverished standard of living.

      Michigan Sales Tax

      State General Sales Tax With Max Surtax
      Michigan 6% 6%

      Michigan Income Tax

      State Income Tax (Low) Income Tax (High)
      Michigan 4.25% 4.25%

      Goods & Services

      Item Charlotte National avg. Difference
      Haircut $22.01$27.6220.3%
      Beauty Salon $29.86$51.1141.6%
      Toothpaste $4.32$4.095.6%
      Shampoo $1.34$1.5413.1%
      Movie $10.07$12.8821.8%
      Yoga $17.04$19.6613.3%

      Groceries

      Item Charlotte National avg. Difference
      Ground Beef $7.62$7.701.1%
      Fried Chicken $1.50$1.669.8%
      Milk $4.93$4.734.2%
      Potatoes $4.92$5.266.4%
      Pizza $11.82$12.767.4%
      Beer $9.63$10.558.7%

      Health Care

      Item Charlotte National avg. Difference
      Optometrist $82.82$140.0640.9%
      Doctor $122.91$153.8220.1%
      Dentist $116.85$123.155.1%
      Ibuprofen $11.70$11.730.3%
      Lipitor $18.60$23.6121.2%

      Housing

      Item Charlotte National avg. Difference
      Home Price $192,290.00$326,622.0041.1%
      Avg. Mortgage Payment $1,563.18$2,480.2537.0%
      Apartment Rent $1,062.00$1,444.0026.5%

      Transportation

      Item Charlotte National avg. Difference
      Gasoline $3.11$3.061.8%
      Tire Balancing $55.90$65.2114.3%

      Utilities

      Item Charlotte National avg. Difference
      All Electricity $216.19$220.121.8%
      Phone $188.92$195.713.5%
      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 Population Cost of Living Index National Avg.
      Nashville, MI1,4958217.6%
      Bellevue, MI1,1858416.2%
      Springport, MI8668415.5%
      Lansing, MI122,1398614.4%
      Vermontville, MI7248515.2%
      Charlotte, MI9,4198614.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lenoir City, TN9,4208712.7%
      Nolensville, TN9,42214544.9%
      Washington Terrace, UT9,4221010.9%
      Greenville, RI9,42312524.7%
      Grinnell, IA9,4248911.4%
      Charlotte, MI9,4198614.4%
      Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.
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