Cost of Living in Wyoming, MI
Housing
The housing market plays a significant role in determining the cost of living in Wyoming, MI.
- Housing Index: 110.0 / 100
- Median Home Price is: $191,000
- Average Rent (2 BR Apartment): $1400 per month
- Average Rent (2 BR House): $1450 per month
When considering a move to Wyoming, MI, homeowners will notice a housing index of 110.0, indicating a competitive market. The median home price is set at 191000, suggesting that purchasing property may require a significant investment. For renters, the average cost for a 2-bedroom apartment is 1400, while a 2-bedroom house averages 1450. This highlights that both renting and buying are viable options, but prospective residents should weigh the long-term benefits of ownership against current rental rates. Keep in mind that local amenities and job opportunities will also play a crucial role in your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Wyoming, 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 Wyoming, 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 Wyoming is a financially viable option for your relocation.