Cost of Living in Redford, MI
Housing
The housing market plays a significant role in determining the cost of living in Redford, MI.
- Housing Index: 90.0 / 100
- Median Home Price is: $162500
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1250 per month
Considering a move to Redford, MI? With a housing index of 90.0, affordability appears within reach, especially when compared to pricier urban centers. The median home price at 162500 provides a good investment opportunity for homebuyers, while average rents for a 2-bedroom apartment and house are at 1200 and 1250, respectively. This suggests that both renting and buying in Redford is affordable compared to the national averages. Research the local amenities and job market to ensure a well-rounded decision for a successful relocation.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Redford, 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 Redford, 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 Redford is a financially viable option for your relocation.