Cost Of Living in Wakefield, 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	Wakefield	Michigan	National
Cost of living	74	89	100
Goods & Services	83	93	100
Groceries	96	99	100
Health care	125	93	100
Housing	37	74	100
Transportation	89	97	100
Utilities	95	101	100

New Real Estate Listings in Wakefield Area

For Sale For Rent

Search

Search Homes for Sale in Wakefield, MI

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Wakefield is 17% lower than the Michigan average
The cost of living in Wakefield is 26% lower than the national average
Wakefield housing is 63% 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 Wakefield

See all the best places to live around Wakefield

Compare Wakefield, MI Cost of Living

Write a review to give others more information about this area.

See all Wakefield poll results

The best places in Michigan

Here are the best places to live in Michigan

See the best places to live in Wakefield

Check out the 10 safest cities in Michigan

These are the largest cities in Michigan

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	$40,517	$3,376	$945	$1,216
Renters	$16,304	$1,359	$380	$489

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	Wakefield	National avg.	Difference
Haircut	$28.71	$24.26	18.3%
Beauty Salon	$44.93	$45.56	1.4%
Toothpaste	$3.62	$3.70	2.3%
Shampoo	$1.18	$1.28	7.6%
Movie	$14.28	$12.13	17.7%
Bowling	$16.88	$18.00	6.2%

Groceries

Item	Wakefield	National avg.	Difference
Ground Beef	$5.41	$5.84	7.3%
Fried Chicken	$1.47	$1.57	6.5%
Milk	$4.78	$4.67	2.3%
Potatoes	$4.45	$4.93	9.9%
Pizza	$12.91	$12.09	6.8%
Beer	$8.70	$10.41	16.5%

Health Care

Item	Wakefield	National avg.	Difference
Optometrist	$89.62	$125.68	28.7%
Doctor	$202.67	$135.78	49.3%
Dentist	$110.30	$113.29	2.6%
Ibuprofen	$10.89	$10.65	2.2%
Lipitor	$447.61	$468.60	4.5%

Housing

Item	Wakefield	National avg.	Difference
Home Price	$52,500.00	$184,700.00	71.6%
Avg. Mortgage Payment	$2,296.35	$2,346.69	2.1%
Apartment Rent	$533.00	$949.00	43.8%

Transportation

Item	Wakefield	National avg.	Difference
Gasoline	$3.25	$3.46	6.1%
Tire Balancing	$66.53	$59.92	11.0%

Utilities

Item	Wakefield	National avg.	Difference
All Electricity	$214.46	$193.99	10.5%
Phone	$184.65	$192.25	4.0%

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.
Marenisco, MI	179	70	29.6%
Ironwood, MI	4,925	74	26.5%
Hurley, WI	1,395	75	25.3%
Bessemer, MI	1,659	76	23.8%
Montreal, WI	697	78	22.3%
Wakefield, MI	1,669	74	25.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
La Guadeloupe, QC	1,669	n/a
Saint-Albert, QC	1,669	n/a
Spring Valley, AZ	1,668	90	9.9%
Oriole Beach, FL	1,670	107	7.0%
Weldon, NC	1,668	85	14.8%
Wakefield, MI	1,669	74	25.8%

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 Wakefield, MI