Cost of Living in Birmingham, MI
Housing
The housing market plays a significant role in determining the cost of living in Birmingham, MI.
- Housing Index: 120.0 / 100
- Median Home Price is: $512,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1900 per month
Considering a move to Birmingham, MI? The housing index of 120.0 suggests a relatively competitive market. With a median home price of 512000 and average rents of 1800 for apartments and 1900 for houses, it's essential to weigh your options. If purchasing isn't feasible, renting might be a beneficial way to explore the area. Keep in mind that a higher housing index indicates a vibrant community, and potential growth could lead to increased property values over time, making homeownership more desirable in the long run.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Birmingham, MI.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $15.42 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Birmingham, MI could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $15.42 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Birmingham is a financially viable option for your relocation.