Cost of Living in Norway, MI
Housing
The housing market plays a significant role in determining the cost of living in Norway, MI.
- Housing Index: 91 / 100
- Median Home Price is: $150,000
- Average Rent (2 BR Apartment): $1435 per month
- Average Rent (2 BR House): $1560 per month
In considering a move to Norway, MI, the current housing data reveals a median home price of 150000, which can be attractive for first-time buyers or investors. However, the housing index is notably low at 91, indicating that either the demand for housing is minimal or that the area may not be as desirable. Although renting options appear absent (with average rents for both a 2BR apartment and house at 1435 and 1560, respectively), this situation presents a unique opportunity for those looking to purchase and potentially grow equity over time.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Norway, 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 Norway, 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 Norway is a financially viable option for your relocation.