Cost of Living in Otsego, MI
Housing
The housing market plays a significant role in determining the cost of living in Otsego, MI.
- Housing Index: 90.1 / 100
- Median Home Price is: $208000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1230 per month
When considering a move to Otsego, MI, the housing data presents a mixed picture. With a housing index of 90.1, it reflects a cost of living that is lower than many urban areas. The median home price is competitively set at 208000, which is favorable for homebuyers. Renting is slightly more costly, with average rents for a 2BR apartment at 1200 and for a 2BR house at 1230. It's also worth noting that the local economy or job market can significantly influence these housing costs, so researching broader economic trends might aid your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Otsego, 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 Otsego, 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 Otsego is a financially viable option for your relocation.