Riverview, MI Cost Of Living
Cost Of Living In Riverview, MI Summary
Cost of living in Riverview 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 Riverview 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 Riverview is 95, with 100 being the average.
The cost of living index in Riverview is 0.9x lower than the national average.
Riverview ranks as the #124 cheapest in Michigan out of 175.
Riverview ranks as the #2,449 cheapest out of 6,412 in the US.
The median home value in Riverview is $166,100.
The median income in Riverview is $62,992.
Table Of Contents
Riverview's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Riverview, MI?
According to the most recent data on the cost of living, Riverview has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to Michigan, Riverview has a cost of living index that's 1.0x higher than Michigan's index of 92.
The standard of living in Riverview ranks as #124 most affordable out of the 175 places we measured in Michigan. By definition, that implies Riverview ranks as the #51 most expensive place in the Wolverine State.
For more reading on life in Riverview, check out:
- Living In Riverview
- Riverview Crime Report
- Search Homes For Sale In Riverview, MI
In Michigan
In America
Riverview Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Riverview. Here is how it fairs on each of the criteria:
The Services index in Riverview is 110.
The Groceries index in Riverview is 101.
The Health index in Riverview is 97.
The Housing index in Riverview is 68.
The Transportation index in Riverview is 108.
The Utilities index in Riverview is 96.
| Living Expense | Riverview | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 95 | 92 | 100 | |
| Services | 110 | 96 | 100 | |
| Groceries | 101 | 96 | 100 | |
| Health | 97 | 94 | 100 | |
| Housing | 68 | 80 | 100 | |
| Transportation | 108 | 97 | 100 | |
| Utilities | 96 | 100 | 100 | |
Riverview, 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 Riverview is $166,100.
The Median Rent in Riverview is $910.
The Median Income in Riverview is $62,992.
The Home Value To Income in Riverview is 2.6x.
The Rent To Monthly Income in Riverview is 0.17x.
| Statistic | Riverview | Michigan | United States |
|---|---|---|---|
| Median Home Value | $166,100 | $172,100 | $244,900 |
| Median Rent | $910 | $946 | $1,163 |
| Median Income | $62,992 | $63,202 | $69,021 |
| Home Value To Income | 2.6x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Riverview, MI Costs By Category
Detailed Riverview Services Costs Vs. Michigan
Detailed Riverview Groceries Costs Vs. Michigan
Detailed Riverview Health Costs Vs. Michigan
Detailed Riverview Transportation Costs Vs. Michigan
Detailed Riverview Utilities Costs Vs. Michigan
Riverview SnackAbility
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Cost Of Living In Cities Around Riverview
The cost of living varies in the cities and towns around Riverview. Here's a quick look at the cost of living in the most populous nearby places:
Dearborn, MI has a cost of living index of 96, 1.0x Riverview.
Livonia, MI has a cost of living index of 102, 1.1x Riverview.
Westland, MI has a cost of living index of 92, 1.0x Riverview.
| City | Population | Cost Of Living | Vs. Riverview |
|---|---|---|---|
| Dearborn, MI | 107,985 | 96 | 1.0x |
| Livonia, MI | 95,294 | 102 | 1.1x |
| Westland, MI | 84,961 | 92 | 1.0x |
| Taylor, MI | 63,071 | 88 | 0.9x |
| Dearborn Heights, MI | 62,334 | 91 | 1.0x |
| Lincoln Park, MI | 39,741 | 89 | 0.9x |
| Southgate, MI | 29,990 | 92 | 1.0x |
| Allen Park, MI | 28,431 | 91 | 1.0x |
| Wyandotte, MI | 24,992 | 88 | 0.9x |
| Trenton, MI | 18,489 | 96 | 1.0x |
