Cost of Living in New troy, MI
Housing
The housing market plays a significant role in determining the cost of living in New troy, MI.
- Housing Index: 91 / 100
- Median Home Price is: $221,500
- Average Rent (2 BR Apartment): $1435 per month
- Average Rent (2 BR House): $1560 per month
Based on the current data for New troy, MI, the housing index is at an unusually low level, suggesting that the market may currently favor buyers. The median home price stands at 221500, which could offer an attractive opportunity compared to other locations. With zero reported rents for a 2-bedroom apartment and house, it's essential to look deeper into local market trends and rental options to fully understand cost living dynamics. Keep in mind that investing in real estate here may yield long-term returns, particularly when considering market fluctuations over time.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in New troy, 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 New troy, 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 New troy is a financially viable option for your relocation.