Cost Of Living in Wakefield, MI

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20%

Overall NAT. AVG.

3%

Groceries NAT. AVG.

62%

Housing NAT. AVG.

Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.

The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index	Wakefield	Michigan	National
Cost of living	80	91	100
Groceries	97	98	100
Health care	99	97	100
Housing	38	76	100
Transportation	100	96	100
Utilities	99	100	100
Lifestyle & Entertainment	97	96	100
Household Items	100	98	100
Education & Childcare	96	95	100

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Homes For Sale In Wakefield, MI

119 North St

Wakefield, MI

310 Indianhead Rd

Wakefield, MI

TBD S Co Rd 519 HWY

Bessemer, MI

TBD Chaney Lake RD

Bessemer, MI

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Cost Of Living Quick Facts

The cost of living in Wakefield is 12% lower than the Michigan average
The cost of living in Wakefield is 20% lower than the national average
Wakefield housing is 62% lower 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

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Price difference in compared to

Cost of living index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Lifestyle index
Household index
Educare index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$60,646	$5,054	$1,415	$1,820
Renters	$24,719	$2,060	$577	$742

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%

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Marenisco, MI	186	76	23.9%
Ironwood, MI	5,076	81	18.9%
Hurley, WI	1,434	82	17.8%
Bessemer, MI	1,701	84	16.3%
Montreal, WI	723	85	15.0%
Wakefield, MI	1,720	80	19.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Cedar Bluff, AL	1,720	86	14.3%
Oriole Beach, FL	1,720	113	12.6%
Olivet, MI	1,720	87	12.8%
Yacolt, WA	1,720	120	20.0%
Plainville, KS	1,721	85	15.3%
Wakefield, MI	1,720	80	19.9%