Cost of Living in Erie, MI
Housing
The housing market plays a significant role in determining the cost of living in Erie, MI.
- Housing Index: 91 / 100
- Median Home Price is: $200,000
- Average Rent (2 BR Apartment): $1435 per month
- Average Rent (2 BR House): $1560 per month
In Erie, MI, the sharply low housing index of 91 suggests either a stagnant market or extremely limited inventory, impacting availability and competitive pricing. The median home price stands at 200000, which can be appealing for home buyers looking for a great deal. However, an absence of rental data for both 2-bedroom apartments and houses (average rents of 1435 and 1560 respectively) raises questions about rental demand and quality of life. Research regional employment trends, amenities, and community dynamics to ensure an informed transition to this market.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Erie, MI.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $15.42 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $237 per month
Living in Erie, MI could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $15.42 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $237 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Erie is a financially viable option for your relocation.