Cost of Living in Newberry, MI
Housing
The housing market plays a significant role in determining the cost of living in Newberry, MI.
- Housing Index: 91 / 100
- Median Home Price is: $154,000
- Average Rent (2 BR Apartment): $1435 per month
- Average Rent (2 BR House): $1560 per month
Considering a move to Newberry, MI? The housing index stands at 91, indicating it’s relatively affordable compared to the national average. With a median home price of 154000, purchasing a home here is a potentially smart investment. Moreover, rental options are budget-friendly; you can find 2-bedroom apartments for about 1435 and houses at 1560. Keep in mind that housing markets often shift, so staying updated on any economic changes can further influence your decision. Overall, Newberry appears to be a promising option for homebuyers and renters alike.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Newberry, 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 Newberry, 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 Newberry is a financially viable option for your relocation.