Use the link below to embed the infographic from our site and automatically keep the data layer up to date. Show If you prefer to download the image, please credit us as a source. Prices in MichiganWe calculate prices for Michigan as a weighted mean for the population of 59 cities. Since large cities tend to have a higher cost of living, it's better to visit specific city pages for more relevant information. When you’re considering moving to a new city, it’s helpful to compare the cost of living with the standard of living there. Cost of living refers to how much you’ll pay for essentials such as rent and groceries, along with extras such as dining out and entertainment. Standard of living refers to how many hours you need to work to cover those expenses and your overall quality of life. You might work the same 40-hour week in San Francisco, California, and Scottsdale, Arizona, but your costs and standard of living will be quite different in those places. In San Francisco, you might find yourself living paycheck to paycheck, barely covering the essentials with little left over for savings and splurges. On the other hand, you might find that in Scottsdale, you can rent a large apartment, comfortably afford to shop at gourmet grocery stores and save for big-ticket items each month. The cost of living in Scottsdale is 33% lower than in San Francisco, freeing up some of your income and potentially giving you a bit more breathing room. The standard of living in a city refers to other factors as well. Some questions to ask before choosing a new place to live include:
Of course, personal preference enters into your decision, too. Your current city may have a high cost of living compared to other options, but if you love the lifestyle and live close to friends and family, the expense may be worth it. But it helps to know what your money can buy in different places, especially if you’re transitioning to a new phase of your life or want to focus on saving money and reducing your expenses. Necessary and Discretionary ExpensesEverything you buy or pay for falls into one of two categories: necessary or discretionary expenses. Necessary expenses include anything essential for your well-being and day-to-day survival, while discretionary expenses are additional items, services, activities, savings or investments that you spend on. However, the cost of both necessary and discretionary expenses can vary significantly from city to city. All of the following items are non-negotiable, but what you’ll pay for them looks very different depending on where you live:
You also have discretionary expenses, no matter where you are. These include things that you enjoy or that are important to you, but which could be cut from your budget if you needed to save money. Some examples of discretionary expenses include restaurant meals, streaming services, gym memberships and personal grooming costs, such as getting your hair done at a high-end salon. Where you live determines how much money you have available for discretionary expenses. The higher your necessary expenses, the less there is available for quality of life purchases. The cost of living calculator tells you how much money you need to maintain your current standard of living in a different city. The cost of living comparison is based on your income and the price of basic necessities such as housing, transportation or food in the two cities you selected. Use the calculator to find out what income you will need in a new city and how much more or less you’ll need to budget for basic expenses. Where does the data come from? Consumer goods, services and home prices are sourced from The Cost of Living Index published by the Council for Community and Economic Research (C2ER). Average rent data is our in-house proprietary data from Yardi Matrix, where available. For the remaining locations, C2ER rent data was used. Yardi Matrix is a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors, a division of Yardi Systems, Inc. Is it cheaper to live in Michigan or California?The cost of living in Los Angeles, CA is 46.7% higher than in Detroit, MI. You would have to earn a salary of $88,022 to maintain your current standard of living. Employers in Los Angeles, CA typically pay 11.2% more than employeers in Detroit, MI.
Is Michigan a high cost of living state?In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. The least expensive areas were the Midwest and Southern states.
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2022 Third Quarter Cost of Living.. What is the average cost of living per month in Michigan?U.S. cost of living comparison by state. Is California a high cost of living state?Average Cost of Living in California: $46,636 per year
California is the third most expensive state in the country, according to MERIC data gathered in 2021.
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Cost of living in michigan vs california
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