Cost of Living: Dearborn, MI vs Panacea, FL
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Dearborn | Panacea |
|---|---|---|
| Housing Index | 110.0 | 85.0 |
| Median Home Price | $205,000 | $351,000 |
| Average Rent (2 BR Apartment) | $1200 | $1600 |
| Average Rent (2 BR House) | $1280 | $1645.6 |
Housing Comparison: Dearborn vs Panacea
- The median home price in Panacea is higher at $351,000, compared to $205,000 in Dearborn.
- In Panacea, the rental for a two-bedroom apartment stands at $1,600, while it is $1,200 in Dearborn.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Dearborn | Panacea |
|---|---|---|
| Electricity Price | $19.88 | $13.89 |
| Natural Gas Price | $15.42 | $26.13 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Dearborn vs Panacea
- Electricity costs are higher in Dearborn at $19.88 per kWh, compared to $13.89 in Panacea.
- Panacea experiences higher natural gas costs at $26.13 per unit, with costs at $15.42 in Dearborn.
- Utility expenses are equal in both Dearborn and Panacea averaging $250.