Cost of Living: Novi, MI vs Richmond, CA
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Novi | Richmond |
|---|---|---|
| Housing Index | 120.0 | 120.0 |
| Median Home Price | $325,000 | $650,000 |
| Average Rent (2 BR Apartment) | $1800 | $2800 |
| Average Rent (2 BR House) | $2000 | $2700 |
Housing Comparison: Novi vs Richmond
- The median home price in Richmond is higher at $650,000, compared to $325,000 in Novi.
- In Richmond, the rental for a two-bedroom apartment stands at $2,800, while it is $1,800 in Novi.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Novi | Richmond |
|---|---|---|
| Electricity Price | $19.88 | $32.99 |
| Natural Gas Price | $15.42 | $16.99 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Novi vs Richmond
- Richmond has higher electricity costs at $32.99 per kWh, versus $19.88 in Novi.
- Richmond experiences higher natural gas costs at $16.99 per unit, with costs at $15.42 in Novi.
- Utility expenses are equal in both Novi and Richmond averaging $250.