Cost Of Living in Milford, MI

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	Milford	Michigan	National
Cost of living	111	89	100
Goods & Services	102	93	100
Groceries	103	99	100
Health care	102	93	100
Housing	137	74	100
Transportation	100	97	100
Utilities	94	101	100

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Cost Of Living Quick Facts

The cost of living in Milford is 25% higher than the Michigan average
The cost of living in Milford is 11% higher than the national average
Milford housing is 37% higher 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
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	$105,410	$8,784	$2,459	$3,163
Renters	$40,104	$3,342	$936	$1,203

To approximate the cost of living and the housing affordability in Milford, MI, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Milford have a median income of $105,410. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,459 per month to avoid calamity and poverty. The renters in the city have an income of about $40,104, which would make their monthly maximum allowable rental costs $936.

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	Milford	National avg.	Difference
Haircut	$16.80	$24.26	30.8%
Beauty Salon	$24.78	$45.56	45.6%
Toothpaste	$3.66	$3.70	1.1%
Shampoo	$1.13	$1.28	11.8%
Movie	$12.99	$12.13	7.1%
Bowling	$12.33	$18.00	31.5%

Groceries

Item	Milford	National avg.	Difference
Ground Beef	$5.75	$5.84	1.5%
Fried Chicken	$1.41	$1.57	10.4%
Milk	$4.78	$4.67	2.3%
Potatoes	$4.80	$4.93	2.8%
Pizza	$8.99	$12.09	25.6%
Beer	$9.04	$10.41	13.2%

Health Care

Item	Milford	National avg.	Difference
Optometrist	$85.00	$125.68	32.4%
Doctor	$103.33	$135.78	23.9%
Dentist	$91.00	$113.29	19.7%
Ibuprofen	$10.22	$10.65	4.1%
Lipitor	$490.11	$468.60	4.6%

Housing

Item	Milford	National avg.	Difference
Home Price	$283,000.00	$184,700.00	53.2%
Avg. Mortgage Payment	$1,709.07	$2,346.69	27.2%
Apartment Rent	$935.00	$949.00	1.5%

Transportation

Item	Milford	National avg.	Difference
Gasoline	$3.35	$3.46	3.1%
Tire Balancing	$56.00	$59.92	6.5%

Utilities

Item	Milford	National avg.	Difference
All Electricity	$219.20	$193.99	13.0%
Phone	$184.44	$192.25	4.1%

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.
Holly, MI	6,151	93	7.1%
Walled Lake, MI	7,153	98	2.5%
Fenton, MI	11,368	98	1.5%
Keego Harbor, MI	3,323	101	1.0%
Whitmore Lake, MI	8,010	102	1.6%
Milford, MI	6,502	111	11.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Lincroft, NJ	6,501	147	47.4%
South Hill, NY	6,503	111	10.7%
Estes Park, CO	6,504	129	29.4%
Winsted, CT	6,504	103	2.8%
Oakmont, PA	6,504	106	6.0%
Milford, MI	6,502	111	11.5%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Milford, MI