| Index | Southfield | Michigan | National |
| Cost of living | 97 | 91 | 100 |
| Groceries | 96 | 98 | 100 |
| Health care | 97 | 97 | 100 |
| Housing | 98 | 76 | 100 |
| Transportation | 95 | 96 | 100 |
| Utilities | 100 | 100 | 100 |
| Lifestyle & Entertainment | 97 | 96 | 100 |
| Household Items | 100 | 98 | 100 |
| Education & Childcare | 94 | 95 | 100 |
Knowing the cost of living in Southfield 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 Southfield stands at 97, marking it 3% lower than the national average.
The cost of living in Southfield closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Southfield can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
The most insightful perspective on a city comes from its residents. We recently surveyed 6 locals to gauge their perception of the cost of living in Southfield. The feedback revealed that 33% of respondents found the cost of living to be reasonable, with prices on the decline, while 67% regarded it as notably expensive with prices that continue to rise.
Wondering if Southfield is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Southfield, for example, the median home price is 10.9% lower than what folks pay nationally, and monthly rent is 18.4% higher than the usual rates. Plus, income levels matter too, with Southfield boasting a median household income of $88,214, which is 8.5% 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 Southfield, the groceries index is 3.6% lower than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Southfield, the housing index is 2.2% 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.
The cost of living data for Southfield 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 | $116,412 | $9,701 | $2,716 | $3,493 |
| Renters | $64,799 | $5,400 | $1,512 | $1,944 |
| 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. |
| River Rouge, MI | 7,756 | 79 | 21.5% |
| Highland Park, MI | 11,056 | 80 | 20.3% |
| Detroit, MI | 692,044 | 82 | 17.6% |
| Inkster, MI | 25,333 | 82 | 17.5% |
| Hamtramck, MI | 22,199 | 84 | 16.2% |
| Southfield, MI | 74,641 | 97 | 2.8% |
| City | Population | Cost of Living Index | National Avg. |
| Framingham, MA | 74,706 | 145 | 44.5% |
| Sarnia, ON | 74,477 | n/a | |
| Dale City, VA | 74,814 | 126 | 26.2% |
| Redlands, CA | 74,429 | 144 | 44.2% |
| Albany, GA | 74,905 | 88 | 12.2% |
| Southfield, MI | 74,641 | 97 | 2.8% |
Here are the best places to live in Michigan
Safest Cities In The US
See the best places to live in Southfield
These are the largest cities in Michigan