A+
11%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
37%
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 Hazel Park Michigan National
Cost of living8989100
Goods & Services10293100
Groceries10399100
Health care10293100
Housing6374100
Transportation10097100
Utilities94101100

An Overview of Cost of Living in Hazel Park, MI

The cost of living in Hazel Park affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Hazel Park is 89, which is 11% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Is Hazel Park Affordable?

Wondering if Hazel Park 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 Hazel Park, for example, the median home price is 53.4% lower than what folks pay nationally, and monthly rent is 0.8% higher than the usual rates. Plus, income levels matter too, with Hazel Park boasting a median household income of $43,725, which is 21% lower than the national average.

What Factors can Influence the Cost of Living in Hazel Park?

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 Hazel Park, the housing index is 37.1% lower than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

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 Hazel Park, the utilities index registers 5.6% lower than the national average.

Where is the Data From?

The cost of living in Hazel Park, 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 Hazel Park is equal to the Michigan average
  • The cost of living in Hazel Park is 11% lower than the national average
  • Hazel Park housing is 37% 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

Most Affordable Places to Live in and Around Hazel Park

See all the best places to live around Hazel Park

Compare Hazel Park, 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$58,022$4,835$1,354$1,741
      Renters$29,049$2,421$678$872
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Hazel Park, MI, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Hazel Park, homeowners have a median income of $58,022. Using that number, a maximum of $1,354 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $29,049, which means there is a maximum of $678 to be spent on the costs of renting a home or apartment.

      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 Hazel Park National avg. Difference
      Haircut $16.80$24.2630.8%
      Beauty Salon $24.78$45.5645.6%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.13$1.2811.8%
      Movie $12.99$12.137.1%
      Bowling $12.33$18.0031.5%

      Groceries

      Item Hazel Park National avg. Difference
      Ground Beef $5.75$5.841.5%
      Fried Chicken $1.41$1.5710.4%
      Milk $4.78$4.672.3%
      Potatoes $4.80$4.932.8%
      Pizza $8.99$12.0925.6%
      Beer $9.04$10.4113.2%

      Health Care

      Item Hazel Park National avg. Difference
      Optometrist $85.00$125.6832.4%
      Doctor $103.33$135.7823.9%
      Dentist $91.00$113.2919.7%
      Ibuprofen $10.22$10.654.1%
      Lipitor $490.11$468.604.6%

      Housing

      Item Hazel Park National avg. Difference
      Home Price $86,100.00$184,700.0053.4%
      Avg. Mortgage Payment $1,709.07$2,346.6927.2%
      Apartment Rent $957.00$949.000.8%

      Transportation

      Item Hazel Park National avg. Difference
      Gasoline $3.35$3.463.1%
      Tire Balancing $56.00$59.926.5%

      Utilities

      Item Hazel Park National avg. Difference
      All Electricity $219.20$193.9913.0%
      Phone $184.44$192.254.1%
      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.
      River Rouge, MI7,4658019.9%
      Highland Park, MI10,8188218.3%
      Ecorse, MI9,4568316.8%
      Detroit, MI672,3518415.5%
      Inkster, MI24,3988515.1%
      Hazel Park, MI16,4528910.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Artesia, CA16,45616262.2%
      Streetsboro, OH16,444946.0%
      Wahiawa, HI16,44216868.4%
      Troutdale, OR16,43312525.5%
      New Milford, NJ16,47714646.0%
      Hazel Park, MI16,4528910.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.