| Index | Forest Hills | Michigan | National |
| Cost of living | 121 | 91 | 100 |
| Groceries | 99 | 98 | 100 |
| Health care | 99 | 97 | 100 |
| Housing | 173 | 76 | 100 |
| Transportation | 99 | 96 | 100 |
| Utilities | 101 | 100 | 100 |
| Lifestyle & Entertainment | 98 | 96 | 100 |
| Household Items | 98 | 98 | 100 |
| Education & Childcare | 93 | 95 | 100 |
Knowing the cost of living in Forest 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 Forest Hills stands at 121, marking it 21% 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 Forest 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, Forest Hills falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a major factor in the Forest Hills cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 72.8% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is Forest Hills affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Forest Hills, the median home price is 91.2% higher than the national average and monthly rent prices are 29.7% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Forest Hills boasting a median household income of $195,405, 140.3% higher than the national average.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Forest Hills, the groceries index is 1.4% lower than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
The cost of living estimates displayed for Forest 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 | |
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| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $202,692 | $16,891 | $4,729 | $6,081 |
| Renters | $67,613 | $5,634 | $1,578 | $2,029 |
| 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. |
| Saranac, MI | 1,655 | 86 | 13.6% |
| Belding, MI | 5,926 | 88 | 12.2% |
| Freeport, MI | 600 | 87 | 13.4% |
| Clarksville, MI | 381 | 87 | 13.3% |
| Sparta, MI | 4,521 | 92 | 8.4% |
| Forest Hills, MI | 29,534 | 121 | 20.6% |
| City | Population | Cost of Living Index | National Avg. |
| Bella Vista, AR | 29,519 | 95 | 4.8% |
| New Iberia, LA | 29,560 | 89 | 10.9% |
| Jacksonville, AR | 29,495 | 89 | 11.0% |
| Lake in the Hills, IL | 29,485 | 111 | 11.2% |
| Mehlville, MO | 29,470 | 94 | 5.7% |
| Forest Hills, MI | 29,534 | 121 | 20.6% |
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