Cost of Living in Grand rapids, MI

Housing

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

• Housing Index: 110.0 / 100
• Median Home Price is: $230000
• Average Rent (2 BR Apartment): $1300 per month
• Average Rent (2 BR House): $1350 per month

Considering a move to Grand rapids, MI? The housing index stands at 110.0, indicating a moderately competitive market. With a median home price of 230000, purchasing may be a practical investment compared to renting. The average rent for a 2-bedroom apartment is 1300, while renting a 2-bedroom house is slightly higher at 1350. This suggests that rental options might not provide the best value in comparison to homeownership. Keep in mind that this region may offer other benefits like employment opportunities and quality of life, adding to its appeal.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Grand rapids, 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 Grand rapids, 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: 105.2

Median Income

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

• Median Income: $61634

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 Grand rapids, 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.