Cost Of Living in Wolverine Lake, 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	Wolverine Lake	Michigan	National
Cost of living	104	89	100
Goods & Services	102	93	100
Groceries	103	99	100
Health care	102	93	100
Housing	111	74	100
Transportation	100	97	100
Utilities	94	101	100

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Cost Of Living Quick Facts

The cost of living in Wolverine Lake is 16% higher than the Michigan average
The cost of living in Wolverine Lake is 4% higher than the national average
Wolverine Lake housing is 11% 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	$94,122	$7,844	$2,196	$2,824
Renters	$49,453	$4,121	$1,154	$1,484

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Wolverine Lake, 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 Wolverine Lake, homeowners have a median income of $94,122. Using that number, a maximum of $2,196 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $49,453, which means there is a maximum of $1,154 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	Wolverine Lake	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	Wolverine Lake	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	Wolverine Lake	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	Wolverine Lake	National avg.	Difference
Home Price	$210,700.00	$184,700.00	14.1%
Avg. Mortgage Payment	$1,709.07	$2,346.69	27.2%
Apartment Rent	$982.00	$949.00	3.5%

Transportation

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

Utilities

Item	Wolverine Lake	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.
Pontiac, MI	59,714	86	13.5%
Walled Lake, MI	7,153	98	2.5%
Southfield, MI	72,966	100	0.2%
Keego Harbor, MI	3,323	101	1.0%
Auburn Hills, MI	23,984	101	1.1%
Wolverine Lake, MI	4,712	104	3.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Spring House, PA	4,711	148	47.6%
Dodgeville, WI	4,711	102	1.8%
Leisure Village, NJ	4,714	99	1.1%
Lake Wildwood, CA	4,709	143	43.2%
Temple, GA	4,709	90	10.2%
Wolverine Lake, MI	4,712	104	3.7%

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 Wolverine Lake, MI