Farmington Hills, MI Cost Of Living
Cost Of Living In Farmington Hills, MI Summary
Cost of living in Farmington Hills research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Farmington Hills is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Michigan, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Farmington Hills is 107, with 100 being the average.
The cost of living index in Farmington Hills is 1.1x higher than the national average.
Farmington Hills ranks as the #158 cheapest in Michigan out of 175.
Farmington Hills ranks as the #3,867 cheapest out of 6,412 in the US.
The median home value in Farmington Hills is $280,100.
The median income in Farmington Hills is $93,434.
Table Of Contents
Farmington Hills's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Farmington Hills, MI?
According to the most recent data on the cost of living, Farmington Hills has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Michigan, Farmington Hills has a cost of living index that's 1.2x higher than Michigan's index of 92.
The standard of living in Farmington Hills ranks as #158 most affordable out of the 175 places we measured in Michigan. By definition, that implies Farmington Hills ranks as the #17 most expensive place in the Wolverine State.
For more reading on life in Farmington Hills, check out:
- Living In Farmington Hills
- Farmington Hills Crime Report
- Search Homes For Sale In Farmington Hills, MI
In Michigan
In America
Farmington Hills Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Farmington Hills. Here is how it fairs on each of the criteria:
The Services index in Farmington Hills is 110.
The Groceries index in Farmington Hills is 98.
The Health index in Farmington Hills is 95.
The Housing index in Farmington Hills is 117.
The Transportation index in Farmington Hills is 107.
The Utilities index in Farmington Hills is 97.
| Living Expense | Farmington Hills | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 107 | 92 | 100 | |
| Services | 110 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 95 | 94 | 100 | |
| Housing | 117 | 80 | 100 | |
| Transportation | 107 | 97 | 100 | |
| Utilities | 97 | 100 | 100 | |
Farmington Hills, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Farmington Hills is $280,100.
The Median Rent in Farmington Hills is $1,273.
The Median Income in Farmington Hills is $93,434.
The Home Value To Income in Farmington Hills is 3.0x.
The Rent To Monthly Income in Farmington Hills is 0.16x.
| Statistic | Farmington Hills | Michigan | United States |
|---|---|---|---|
| Median Home Value | $280,100 | $172,100 | $244,900 |
| Median Rent | $1,273 | $946 | $1,163 |
| Median Income | $93,434 | $63,202 | $69,021 |
| Home Value To Income | 3.0x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Farmington Hills, MI Costs By Category
Detailed Farmington Hills Services Costs Vs. Michigan
| Item | Farmington Hills | Michigan |
|---|---|---|
| Shampoo | $0.94 | $1.06 |
| Movie | $11.26 | $10.68 |
| Bowling | $19.8 | $14.67 |
| Haircut | $18.95 | $18.62 |
| Beauty Salon | $54.27 | $39.05 |
Detailed Farmington Hills Groceries Costs Vs. Michigan
| Item | Farmington Hills | Michigan |
|---|---|---|
| Ground Beef | $4.55 | $4.22 |
| Fried Chicken | $1.13 | $1.39 |
| Milk | $1.44 | $2.05 |
| Potatoes | $4.18 | $3.29 |
| Pizza | $10.82 | $10.62 |
| Beer | $8.42 | $9.38 |
| Toothpaste | $2.43 | $2.34 |
Detailed Farmington Hills Health Costs Vs. Michigan
| Item | Farmington Hills | Michigan |
|---|---|---|
| Optometrist | $81.52 | $108.57 |
| Doctor | $104.59 | $116.17 |
| Dentist | $99.57 | $99.13 |
Detailed Farmington Hills Transportation Costs Vs. Michigan
| Item | Farmington Hills | Michigan |
|---|---|---|
| Gasoline | $2.25 | $2.22 |
| Tire Balancing | $58.95 | $50.07 |
Detailed Farmington Hills Utilities Costs Vs. Michigan
| Item | Farmington Hills | Michigan |
|---|---|---|
| All Electricity | $159.51 | $167.67 |
| Phone | $178.81 | $175.64 |
Farmington Hills SnackAbility
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Cost Of Living In Cities Around Farmington Hills
The cost of living varies in the cities and towns around Farmington Hills. Here's a quick look at the cost of living in the most populous nearby places:
Livonia, MI has a cost of living index of 102, 1.0x Farmington Hills.
Troy, MI has a cost of living index of 113, 1.1x Farmington Hills.
Southfield, MI has a cost of living index of 96, 0.9x Farmington Hills.
| City | Population | Cost Of Living | Vs. Farmington Hills |
|---|---|---|---|
| Livonia, MI | 95,294 | 102 | 1.0x |
| Troy, MI | 86,912 | 113 | 1.1x |
| Southfield, MI | 76,196 | 96 | 0.9x |
| Rochester Hills, MI | 75,990 | 111 | 1.0x |
| Novi, MI | 65,369 | 113 | 1.1x |
| Royal Oak, MI | 58,368 | 101 | 0.9x |
| Birmingham, MI | 21,728 | 134 | 1.3x |
| Berkley, MI | 15,234 | 102 | 1.0x |
| Clawson, MI | 11,482 | 99 | 0.9x |
| Farmington, MI | 11,481 | 99 | 0.9x |
