Cost Of Living in New Troy, 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	New Troy	Michigan	National
Cost of living	89	89	100
Goods & Services	88	93	100
Groceries	98	99	100
Health care	84	93	100
Housing	79	74	100
Transportation	96	97	100
Utilities	107	101	100

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Cost Of Living Quick Facts

The cost of living in New Troy is equal to the Michigan average
The cost of living in New Troy is 11% lower than the national average
New Troy housing is 21% 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
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	$51,389	$4,282	$1,199	$1,542
Renters	$55,000	$4,583	$1,283	$1,650

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	New Troy	National avg.	Difference
Haircut	$19.25	$24.26	20.6%
Beauty Salon	$26.42	$45.56	42.0%
Toothpaste	$3.59	$3.70	3.0%
Shampoo	$1.14	$1.28	11.0%
Movie	$8.35	$12.13	31.2%
Bowling	$16.07	$18.00	10.7%

Groceries

Item	New Troy	National avg.	Difference
Ground Beef	$6.62	$5.84	13.4%
Fried Chicken	$1.38	$1.57	12.3%
Milk	$4.65	$4.67	0.4%
Potatoes	$4.58	$4.93	7.2%
Pizza	$11.14	$12.09	7.8%
Beer	$9.06	$10.41	12.9%

Health Care

Item	New Troy	National avg.	Difference
Optometrist	$74.50	$125.68	40.7%
Doctor	$121.31	$135.78	10.7%
Dentist	$112.00	$113.29	1.1%
Ibuprofen	$10.34	$10.65	2.9%
Lipitor	$490.47	$468.60	4.7%

Housing

Item	New Troy	National avg.	Difference
Home Price	$154,800.00	$184,700.00	16.2%
Avg. Mortgage Payment	$1,416.13	$2,346.69	39.7%
Apartment Rent	$650.00	$949.00	31.5%

Transportation

Item	New Troy	National avg.	Difference
Gasoline	$3.34	$3.46	3.4%
Tire Balancing	$54.56	$59.92	9.0%

Utilities

Item	New Troy	National avg.	Difference
All Electricity	$205.85	$193.99	6.1%
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.
Hudson Lake, IN	1,285	80	20.1%
South Bend, IN	102,686	82	18.2%
Galien, MI	449	82	17.7%
Fair Plain, MI	7,148	85	14.6%
Buchanan, MI	4,270	85	15.4%
New Troy, MI	391	89	10.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Twin, AL	391	74	26.2%
Monterey, IN	391	79	21.3%
South Mills, NC	391	93	6.6%
Davenport, NE	391	72	27.9%
Madison, PA	391	99	0.6%
New Troy, MI	391	89	10.9%

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 New Troy, MI