Cost of Living in Ferndale, MI
Housing
The housing market plays a significant role in determining the cost of living in Ferndale, MI.
- Housing Index: Data is updating
- Median Home Price is: $223,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
Considering the provided data for Ferndale, MI, the current indicators suggest a highly affordable market with a median home price of 223000. However, the housing index and average rents for 2-bedroom apartments and houses are not identified, which raises some flags regarding liveability and tenancy options. It's essential to further investigate these areas to gain insight into the housing stock and overall quality of life. Considering the median home price, if it's a thriving community, purchasing might prove beneficial, especially if rental options are lacking.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Ferndale, 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.): Data is updating
Living in Ferndale, 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 data unavailable 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 Ferndale is a financially viable option for your relocation.