Taylor, MI Cost Of Living
Cost Of Living In Taylor, MI Summary
Cost of living in Taylor 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 Taylor 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 Taylor is 88, with 100 being the average.
The cost of living index in Taylor is 0.9x lower than the national average.
Taylor ranks as the #64 cheapest in Michigan out of 175.
Taylor ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Taylor is $116,600.
The median income in Taylor is $55,358.
Table Of Contents
Taylor's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Taylor, MI?
According to the most recent data on the cost of living, Taylor has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Michigan, Taylor has a cost of living index that's 1.0x lower than Michigan's index of 92.
The standard of living in Taylor ranks as #64 most affordable out of the 175 places we measured in Michigan. By definition, that implies Taylor ranks as the #111 most expensive place in the Wolverine State.
For more reading on life in Taylor, check out:
- Living In Taylor
- Taylor Crime Report
- Search Homes For Sale In Taylor, MI
In Michigan
In America
Taylor Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Taylor. Here is how it fairs on each of the criteria:
The Services index in Taylor is 109.
The Groceries index in Taylor is 101.
The Health index in Taylor is 97.
The Housing index in Taylor is 56.
The Transportation index in Taylor is 108.
The Utilities index in Taylor is 97.
| Living Expense | Taylor | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 88 | 92 | 100 | |
| Services | 109 | 96 | 100 | |
| Groceries | 101 | 96 | 100 | |
| Health | 97 | 94 | 100 | |
| Housing | 56 | 80 | 100 | |
| Transportation | 108 | 97 | 100 | |
| Utilities | 97 | 100 | 100 | |
Taylor, 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 Taylor is $116,600.
The Median Rent in Taylor is $895.
The Median Income in Taylor is $55,358.
The Home Value To Income in Taylor is 2.1x.
The Rent To Monthly Income in Taylor is 0.19x.
| Statistic | Taylor | Michigan | United States |
|---|---|---|---|
| Median Home Value | $116,600 | $172,100 | $244,900 |
| Median Rent | $895 | $946 | $1,163 |
| Median Income | $55,358 | $63,202 | $69,021 |
| Home Value To Income | 2.1x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Taylor, MI Costs By Category
Detailed Taylor Services Costs Vs. Michigan
Detailed Taylor Groceries Costs Vs. Michigan
Detailed Taylor Health Costs Vs. Michigan
Detailed Taylor Transportation Costs Vs. Michigan
Detailed Taylor Utilities Costs Vs. Michigan
Taylor SnackAbility
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Cost Of Living In Cities Around Taylor
The cost of living varies in the cities and towns around Taylor. 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, 1.1x Taylor.
Livonia, MI has a cost of living index of 102, 1.2x Taylor.
Farmington Hills, MI has a cost of living index of 107, 1.2x Taylor.
| City | Population | Cost Of Living | Vs. Taylor |
|---|---|---|---|
| Dearborn, MI | 107,985 | 96 | 1.1x |
| Livonia, MI | 95,294 | 102 | 1.2x |
| Farmington Hills, MI | 83,749 | 107 | 1.2x |
| Lincoln Park, MI | 39,741 | 89 | 1.0x |
| Southgate, MI | 29,990 | 92 | 1.0x |
| Allen Park, MI | 28,431 | 91 | 1.0x |
| Inkster, MI | 25,849 | 83 | 0.9x |
| Wyandotte, MI | 24,992 | 88 | 1.0x |
| Romulus, MI | 24,977 | 91 | 1.0x |
| Berkley, MI | 15,234 | 102 | 1.2x |
