Cost of Living in Farmington hills, MI
Housing
The housing market plays a significant role in determining the cost of living in Farmington hills, MI.
- Housing Index: 91 / 100
- Median Home Price is: $292,000
- Average Rent (2 BR Apartment): $1139 per month
- Average Rent (2 BR House): $1239 per month
Analyzing the real estate data for Farmington hills, MI, we find that while the housing index is at 91, the median home price stands at a relatively affordable 292000. Unfortunately, there is no data available for average rent for a 2-bedroom apartment or house; however, it's crucial to consider the overall cost of living. Residents should explore local amenities, employment opportunities, and community aspects that may impact their quality of life beyond just housing costs. This balance will ensure you make an informed decision well-suited to your lifestyle needs.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Farmington hills, 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 Farmington hills, 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 Farmington hills is a financially viable option for your relocation.