| Index | Fraser | Michigan | National |
| Cost of living | 92 | 91 | 100 |
| Groceries | 98 | 98 | 100 |
| Health care | 97 | 97 | 100 |
| Housing | 83 | 76 | 100 |
| Transportation | 98 | 96 | 100 |
| Utilities | 98 | 100 | 100 |
| Lifestyle & Entertainment | 93 | 96 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 93 | 95 | 100 |
Knowing the cost of living in Fraser 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 Fraser stands at 92, marking it 8% lower than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Fraser are priced in a manner consistent with other areas. This means that residents of Fraser can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Is Fraser 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 Fraser, the median home price is 14.7% lower than the national average and monthly rent prices are 23.1% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Fraser boasting a median household income of $85,502, 5.1% higher than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Fraser, the prevailing sales tax rate starts at 6%, and income tax rates kick off at 4.25%.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including 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 offering fewer subsidies may experience a rise in their cost of living.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The cost of living data for Fraser shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between 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 | $108,157 | $9,013 | $2,523 | $3,245 |
| Renters | $39,814 | $3,318 | $929 | $1,195 |
| 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% |
| Center Line, MI | 8,398 | 86 | 14.0% |
| Hazel Park, MI | 16,845 | 87 | 12.7% |
| Fraser, MI | 14,815 | 92 | 7.6% |
| City | Population | Cost of Living Index | National Avg. |
| Gaspé, QC | 14,815 | n/a | |
| Midlothian, IL | 14,817 | 99 | 1.4% |
| Dayton, NV | 14,811 | 115 | 14.7% |
| Morris, IL | 14,819 | 101 | 1.5% |
| Destin, FL | 14,810 | 128 | 27.8% |
| Fraser, MI | 14,815 | 92 | 7.6% |
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