An Overview of Cost of Living in St. Clair Shores, MI
Are you thinking about relocating, but curious about the potential cost of living in St. Clair Shores? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in St. Clair Shores stands at 96, making it 4% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Everyday expenditures like food, housing, goods and services, transportation and health care in St. Clair Shores are priced in a manner consistent with other areas. This means that residents of St. Clair Shores can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
What Do Locals Say About the Cost of Living in St. Clair Shores?
The real experts on a city are its residents. That's why we reached out to 7 locals to get their views on the cost of living in St. Clair Shores. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 100% found it budget-friendly with decreasing prices, while 0% said it's simply not affordable as prices have continued to rise.
Is St. Clair Shores Affordable?
Is St. Clair Shores 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 St. Clair Shores, the median home price is 21.8% lower than the national average and monthly rent prices are 0.4% lower than the typical rates. Additionally, the median income levels play a role in affordability, with St. Clair Shores boasting a median household income of $62,935, 13.8% higher than the national average.
What Factors can Influence the Cost of Living in St. Clair Shores?
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In St. Clair Shores, the transportation index is 0.5% lower than the national average.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In St. Clair Shores, healthcare costs are 2.2% higher than the national average.
Where is the Data From?
The cost of living data in St. Clair Shores displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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