Cost of Living: Detroit, MI vs Sherwood, AR
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Detroit | Sherwood |
|---|---|---|
| Housing Index | 72.0 | 85.0 |
| Median Home Price | $100,000 | $247,000 |
| Average Rent (2 BR Apartment) | $1200 | $1000 |
| Average Rent (2 BR House) | $1360 | $1028 |
Housing Comparison: Detroit vs Sherwood
- The median home price in Sherwood is higher at $247,000, compared to $100,000 in Detroit.
- Renting a two-bedroom apartment costs more in Detroit at $1,200 than in Sherwood at $1,000.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Detroit | Sherwood |
|---|---|---|
| Electricity Price | $19.88 | $12.36 |
| Natural Gas Price | $15.42 | $17.08 |
| Other Utilities | $200 | $260 |
Utilities Comparison: Detroit vs Sherwood
- Electricity costs are higher in Detroit at $19.88 per kWh, compared to $12.36 in Sherwood.
- Sherwood experiences higher natural gas costs at $17.08 per unit, with costs at $15.42 in Detroit.
- Sherwood has higher utility expenses, averaging $260, while Detroit averages $200.