Owosso, MI Cost Of Living
Cost Of Living In Owosso, MI Summary
Cost of living in Owosso 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 Owosso 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 Owosso is 90, with 100 being the average.
The cost of living index in Owosso is 0.9x lower than the national average.
Owosso ranks as the #84 cheapest in Michigan out of 175.
Owosso ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Owosso is $95,600.
The median income in Owosso is $45,599.
Table Of Contents
Owosso's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Owosso, MI?
According to the most recent data on the cost of living, Owosso has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Michigan, Owosso has a cost of living index that's 1.0x lower than Michigan's index of 92.
The standard of living in Owosso ranks as #84 most affordable out of the 175 places we measured in Michigan. By definition, that implies Owosso ranks as the #91 most expensive place in the Wolverine State.
For more reading on life in Owosso, check out:
- Living In Owosso
- Owosso Crime Report
- Search Homes For Sale In Owosso, MI
In Michigan
In America
Owosso Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Owosso. Here is how it fairs on each of the criteria:
The Services index in Owosso is 110.
The Groceries index in Owosso is 100.
The Health index in Owosso is 98.
The Housing index in Owosso is 48.
The Transportation index in Owosso is 108.
The Utilities index in Owosso is 95.
| Living Expense | Owosso | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 90 | 92 | 100 | |
| Services | 110 | 96 | 100 | |
| Groceries | 100 | 96 | 100 | |
| Health | 98 | 94 | 100 | |
| Housing | 48 | 80 | 100 | |
| Transportation | 108 | 97 | 100 | |
| Utilities | 95 | 100 | 100 | |
Owosso, 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 Owosso is $95,600.
The Median Rent in Owosso is $760.
The Median Income in Owosso is $45,599.
The Home Value To Income in Owosso is 2.1x.
The Rent To Monthly Income in Owosso is 0.2x.
| Statistic | Owosso | Michigan | United States |
|---|---|---|---|
| Median Home Value | $95,600 | $172,100 | $244,900 |
| Median Rent | $760 | $946 | $1,163 |
| Median Income | $45,599 | $63,202 | $69,021 |
| Home Value To Income | 2.1x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Owosso, MI Costs By Category
Detailed Owosso Services Costs Vs. Michigan
Detailed Owosso Groceries Costs Vs. Michigan
Detailed Owosso Health Costs Vs. Michigan
Detailed Owosso Transportation Costs Vs. Michigan
Detailed Owosso Utilities Costs Vs. Michigan
Owosso SnackAbility
/10
Cost Of Living In Cities Around Owosso
The cost of living varies in the cities and towns around Owosso. Here's a quick look at the cost of living in the most populous nearby places:
Novi, MI has a cost of living index of 113, 1.3x Owosso.
Holt, MI has a cost of living index of 86, 1.0x Owosso.
Okemos, MI has a cost of living index of 101, 1.1x Owosso.
| City | Population | Cost Of Living | Vs. Owosso |
|---|---|---|---|
| Novi, MI | 65,369 | 113 | 1.3x |
| Holt, MI | 25,755 | 86 | 1.0x |
| Okemos, MI | 25,179 | 101 | 1.1x |
| Haslett, MI | 19,333 | 93 | 1.0x |
| South Lyon, MI | 11,786 | 101 | 1.1x |
| Mason, MI | 8,307 | 85 | 0.9x |
| Grand Blanc, MI | 8,055 | 97 | 1.1x |
| Whitmore Lake, MI | 8,019 | 99 | 1.1x |
| Walled Lake, MI | 7,263 | 94 | 1.0x |
| Milford, MI | 6,511 | 99 | 1.1x |
