Cost of Living in Grosse Pointe Farms, MI

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F
25%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
82%
Housing NAT. AVG.
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Grosse Pointe Farms Michigan National
Cost of living12591100
Goods & Services10096100
Groceries10199100
Health care10492100
Housing18276100
Transportation105100100
Utilities9997100
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Homes For Sale In Grosse Pointe Farms, MI

property for sale

174 Kerby Rd

Grosse Pointe Farms, MI
property for sale

285 McMillan Rd

Grosse Pointe Farms, MI
property for sale

207 Lake Shore Rd

Grosse Pointe Farms, MI
property for sale

489 Chalfonte Ave

Grosse Pointe Farms, MI

Cost Of Living Quick Facts

  • The cost of living in Grosse Pointe Farms is 38% higher than the Michigan average
  • The cost of living in Grosse Pointe Farms is 25% higher than the national average
  • Grosse Pointe Farms housing is 82% higher 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 Grosse Pointe Farms

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Compare Grosse Pointe Farms, MI Cost of Living

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      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$218,334$18,195$5,094$6,551
      Renters$0$0$0$0
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Grosse Pointe Farms, MI, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Grosse Pointe Farms homeowners, is $218,334. This would allow for a maximum of $5,094 per month to be spent on housing costs. For renters, the median monthly income is $0 which would result in a maximum of $0 to be spent on rental costs.

      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 Grosse Pointe Farms National avg. Difference
      Haircut $25.73$27.626.8%
      Beauty Salon $62.43$51.1122.2%
      Toothpaste $4.28$4.094.6%
      Shampoo $1.57$1.541.8%
      Movie $11.35$12.8811.9%
      Yoga $23.07$19.6617.3%

      Groceries

      Item Grosse Pointe Farms National avg. Difference
      Ground Beef $7.54$7.702.1%
      Fried Chicken $1.76$1.665.9%
      Milk $4.87$4.732.9%
      Potatoes $5.40$5.262.7%
      Pizza $12.82$12.760.4%
      Beer $9.74$10.557.7%

      Health Care

      Item Grosse Pointe Farms National avg. Difference
      Optometrist $92.07$140.0634.3%
      Doctor $180.95$153.8217.6%
      Dentist $140.54$123.1514.1%
      Ibuprofen $11.55$11.731.6%
      Lipitor $18.63$23.6121.1%

      Housing

      Item Grosse Pointe Farms National avg. Difference
      Home Price $652,360.00$326,622.0099.7%
      Avg. Mortgage Payment $2,467.70$2,480.250.5%
      Apartment Rent $2,039.00$1,444.0041.2%

      Transportation

      Item Grosse Pointe Farms National avg. Difference
      Gasoline $3.19$3.064.4%
      Tire Balancing $69.21$65.216.1%

      Utilities

      Item Grosse Pointe Farms National avg. Difference
      All Electricity $221.41$220.120.6%
      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.
      River Rouge, MI7,7568019.6%
      Highland Park, MI11,0568217.9%
      Ecorse, MI9,6848416.4%
      Detroit, MI692,0448515.2%
      Hamtramck, MI22,1998613.8%
      Grosse Pointe Farms, MI9,34012525.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fairview, TX9,33913737.4%
      Grants, NM9,3338812.1%
      University of California-Davis, CA9,35112727.2%
      Sheffield Lake, OH9,3548911.1%
      Ladysmith, BC9,354n/a 
      Grosse Pointe Farms, MI9,34012525.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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