Cost of Living in Lake leelanau, MI
Housing
The housing market plays a significant role in determining the cost of living in Lake leelanau, MI.
- Housing Index: 120.0 / 100
- Median Home Price is: $393,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
When considering a move to Lake leelanau, MI, you’ll encounter a housing index of 120.0, indicating a higher level of affordability compared to the national average. With a median home price of 393000, purchasing a home may present a more accessible option than renting. The average rent for a 2-bedroom apartment stands at 1800, while a similar house would cost slightly more at 1840. This suggests that families looking to settle might find the home's investment beneficial in the long run, despite the current rental costs soaring. Explore further to gauge your options ahead!
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lake leelanau, 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 Lake leelanau, 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 Lake leelanau is a financially viable option for your relocation.