Cost of Living in Ishpeming, MI
Housing
The housing market plays a significant role in determining the cost of living in Ishpeming, MI.
- Housing Index: 90.0 / 100
- Median Home Price is: $110,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1230 per month
Considering a move to Ishpeming, MI? With a housing index of 90.0, the local market is relatively reasonable. The median home price stands at 110000, attracting potential homeowners due to affordability. Renters might pay around 1200 for a 2-bedroom apartment or 1230 for a 2-bedroom house. This indicates a balanced rental market aligned with the home buying opportunities here. Overall, Ishpeming could be an enticing choice for both buyers and renters seeking affordability combined with a quality lifestyle.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Ishpeming, 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 Ishpeming, 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 Ishpeming is a financially viable option for your relocation.