Cost of Living: Murray, KY vs Novi, MI
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Murray | Novi |
|---|---|---|
| Housing Index | 90.0 | 120.0 |
| Median Home Price | $165,000 | $325,000 |
| Average Rent (2 BR Apartment) | $1200 | $1800 |
| Average Rent (2 BR House) | $1300 | $2000 |
Housing Comparison: Murray vs Novi
- The median home price in Novi is higher at $325,000, compared to $165,000 in Murray.
- In Novi, the rental for a two-bedroom apartment stands at $1,800, while it is $1,200 in Murray.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Murray | Novi |
|---|---|---|
| Electricity Price | $12.87 | $19.88 |
| Natural Gas Price | $22.78 | $15.42 |
| Other Utilities | $200 | $250 |
Utilities Comparison: Murray vs Novi
- Novi has higher electricity costs at $19.88 per kWh, versus $12.87 in Murray.
- Natural gas is more expensive in Murray at $22.78 per unit, while it is cheaper at $15.42 in Novi.
- Novi has higher utility expenses, averaging $250, while Murray averages $200.