Cost of Living in Dearborn, MI

Housing

The housing market plays a significant role in determining the cost of living in Dearborn, MI.

• Housing Index: 110.0 / 100
• Median Home Price is: $205000
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1280 per month

When considering a move to Dearborn, MI, the housing index is currently at 110.0, indicating a competitive market. The median home price of 205000 suggests it's affordable compared to many regions. Renting varies, with an average of 1200 for a 2-bedroom apartment and 1280 for a house, which remains reasonable. It's essential to note, however, that a housing index over 100 often reflects increased demand. Thus, potential buyers and renters should act quickly to secure their housing in this expanding locale.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Dearborn, 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 Dearborn, 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 105.1

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $64600

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Dearborn, MI, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.