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: $191000
• 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 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: 105.0

Median Income

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

• Median Income: $67234

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 Wyoming, 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.