Wayne, MI Cost Of Living
Cost Of Living In Wayne, MI Summary
Cost of living in Wayne 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 Wayne 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 Wayne is 88, with 100 being the average.
The cost of living index in Wayne is 0.9x lower than the national average.
Wayne ranks as the #64 cheapest in Michigan out of 175.
Wayne ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Wayne is $108,900.
The median income in Wayne is $47,621.
Table Of Contents
Wayne's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Wayne, MI?
According to the most recent data on the cost of living, Wayne has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Michigan, Wayne has a cost of living index that's 1.0x lower than Michigan's index of 92.
The standard of living in Wayne ranks as #64 most affordable out of the 175 places we measured in Michigan. By definition, that implies Wayne ranks as the #111 most expensive place in the Wolverine State.
For more reading on life in Wayne, check out:
- Living In Wayne
- Wayne Crime Report
- Search Homes For Sale In Wayne, MI
In Michigan
In America
Wayne Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Wayne. Here is how it fairs on each of the criteria:
The Services index in Wayne is 110.
The Groceries index in Wayne is 101.
The Health index in Wayne is 97.
The Housing index in Wayne is 47.
The Transportation index in Wayne is 105.
The Utilities index in Wayne is 97.
| Living Expense | Wayne | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 88 | 92 | 100 | |
| Services | 110 | 96 | 100 | |
| Groceries | 101 | 96 | 100 | |
| Health | 97 | 94 | 100 | |
| Housing | 47 | 80 | 100 | |
| Transportation | 105 | 97 | 100 | |
| Utilities | 97 | 100 | 100 | |
Wayne, 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 Wayne is $108,900.
The Median Rent in Wayne is $820.
The Median Income in Wayne is $47,621.
The Home Value To Income in Wayne is 2.3x.
The Rent To Monthly Income in Wayne is 0.21x.
| Statistic | Wayne | Michigan | United States |
|---|---|---|---|
| Median Home Value | $108,900 | $172,100 | $244,900 |
| Median Rent | $820 | $946 | $1,163 |
| Median Income | $47,621 | $63,202 | $69,021 |
| Home Value To Income | 2.3x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Wayne, MI Costs By Category
Detailed Wayne Services Costs Vs. Michigan
Detailed Wayne Groceries Costs Vs. Michigan
Detailed Wayne Health Costs Vs. Michigan
Detailed Wayne Transportation Costs Vs. Michigan
Detailed Wayne Utilities Costs Vs. Michigan
Wayne SnackAbility
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Cost Of Living In Cities Around Wayne
The cost of living varies in the cities and towns around Wayne. Here's a quick look at the cost of living in the most populous nearby places:
Ann Arbor, MI has a cost of living index of 113, 1.3x Wayne.
Livonia, MI has a cost of living index of 102, 1.2x Wayne.
Westland, MI has a cost of living index of 92, 1.0x Wayne.
| City | Population | Cost Of Living | Vs. Wayne |
|---|---|---|---|
| Ann Arbor, MI | 122,731 | 113 | 1.3x |
| Livonia, MI | 95,294 | 102 | 1.2x |
| Westland, MI | 84,961 | 92 | 1.0x |
| Novi, MI | 65,369 | 113 | 1.3x |
| Taylor, MI | 63,071 | 88 | 1.0x |
| Dearborn Heights, MI | 62,334 | 91 | 1.0x |
| Royal Oak, MI | 58,368 | 101 | 1.1x |
| Allen Park, MI | 28,431 | 91 | 1.0x |
| Inkster, MI | 25,849 | 83 | 0.9x |
| Romulus, MI | 24,977 | 91 | 1.0x |
