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: $205,000
- 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 Dearborn is a financially viable option for your relocation.