In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Displayed above is a general overview of the Inkster, MI cost of living index. The overall cost of living index in Inkster, MI is 81, which is 8% lower than the Michigan average and 19% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Inkster, MI are 5% higher than the Michigan average and 3% lower than the national average.
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The cost of living in Inkster is 8% lower than the Michigan average.
The cost of living in Inkster is 19% lower than the national average.
The cost of housing in Inkster is 59% lower than the national average.
Michigan general sales tax is 18% higher than the national average.
Michigan state income tax is 91% higher than the national average.
Compare Inkster, MI Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is meant to help you compare your salary in Inkster, MI to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Inkster, MI, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Inkster, MI salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Inkster, MI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Inkster, MI, the median monthly income is $45,115 for those who own their own homes. Under the standard rule, that income level would allow for $1,053 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $20,354, per the median income in the area. That would allow for renters to spend up to $475 on monthly rental expenses.
Michigan Sales Tax
General Sales Tax
With Max Surtax
Michigan Income Tax
Income Tax (Low)
Income Tax (High)
When you are determining the total cost of living in Inkster, MI you will want to make sure you consider both the Michigan sales tax and the Michigan income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Michigan is 6%, with the highest surtax being 6%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Michigan have a range from 4.25% to 4.25%.
Goods & Services
Avg. Mortgage Payment
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.