A+
10%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
20%
Housing NAT. AVG.
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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 Wyoming Michigan National
Cost of living9089100
Goods & Services9093100
Groceries9599100
Health care9493100
Housing8074100
Transportation9597100
Utilities102101100

An Overview of Cost of Living in Wyoming, MI

Understanding the cost of living in Wyoming can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Wyoming cost of living index is 90, which is 10% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Is Wyoming Affordable?

Is Wyoming an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Wyoming, the median home price is 26.6% lower than what most folks pay across the country, and monthly rent prices are 4.1% lower than the usual rates. Income levels in Wyoming come in at $57,088, which is 3.2% higher than the national average.

What Factors can Influence the Cost of Living in Wyoming?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Wyoming, the prevailing sales tax rate starts at 6%, and income tax rates kick off at 4.25%.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Wyoming, the utilities index registers 2.3% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Wyoming, the healthcare costs are 6.2% lower than the national average.

Where is the Data From?

The cost of living in Wyoming, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Wyoming is equal to the Michigan average
  • The cost of living in Wyoming is 10% lower than the national average
  • Wyoming housing is 20% lower than the national average
  • Michigan general sales tax is 18% higher than the national average
  • Michigan state income tax is 88% higher than the national average

Most Affordable Places to Live in and Around Wyoming

See all the best places to live around Wyoming

Compare Wyoming, MI Cost of Living

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      Salary Calculator

      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$68,869$5,739$1,607$2,066
      Renters$37,036$3,086$864$1,111
      The affordability of the housing market in Wyoming, MI as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Wyoming homeowners, the median income is $68,869. This indicates that a monthly maximum of $1,607 should be spent by homeowners on all housing related costs. Renters have a median income of $37,036. This indicates that renters would have a maximum of $864 for their rent related monthly 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 Wyoming National avg. Difference
      Haircut $24.53$24.261.1%
      Beauty Salon $56.27$45.5623.5%
      Toothpaste $3.64$3.701.8%
      Shampoo $1.40$1.289.1%
      Movie $11.22$12.137.5%
      Bowling $22.17$18.0023.1%

      Groceries

      Item Wyoming National avg. Difference
      Ground Beef $5.51$5.845.7%
      Fried Chicken $1.69$1.577.7%
      Milk $4.84$4.673.6%
      Potatoes $4.77$4.933.3%
      Pizza $10.99$12.099.1%
      Beer $9.38$10.419.9%

      Health Care

      Item Wyoming National avg. Difference
      Optometrist $91.40$125.6827.3%
      Doctor $139.14$135.782.5%
      Dentist $120.35$113.296.2%
      Ibuprofen $10.88$10.652.1%
      Lipitor $504.80$468.607.7%

      Housing

      Item Wyoming National avg. Difference
      Home Price $135,500.00$184,700.0026.6%
      Avg. Mortgage Payment $2,520.64$2,346.697.4%
      Apartment Rent $910.00$949.004.1%

      Transportation

      Item Wyoming National avg. Difference
      Gasoline $3.42$3.461.2%
      Tire Balancing $60.57$59.921.1%

      Utilities

      Item Wyoming National avg. Difference
      All Electricity $180.47$193.997.0%
      Phone $184.98$192.253.8%
      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.
      Coopersville, MI4,388909.8%
      Middleville, MI3,447919.0%
      Cutlerville, MI17,988928.1%
      Comstock Park, MI10,659928.0%
      Grand Rapids, MI199,417927.7%
      Wyoming, MI75,9999010.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Baytown, TX76,089937.2%
      Kalamazoo, MI76,1068613.7%
      Hammond, IN76,141927.7%
      Iowa City, IA75,8491043.6%
      Baldwin Park, CA75,65914545.0%
      Wyoming, MI75,9999010.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.