Cost of Living in Romeo, MI
Housing
The housing market plays a significant role in determining the cost of living in Romeo, MI.
- Housing Index: 91 / 100
- Median Home Price is: $205,000
- Average Rent (2 BR Apartment): $1435 per month
- Average Rent (2 BR House): $1560 per month
Based on the data for Romeo, MI, the median home price is set at 205000. Interestingly, both the housing index is at a low of 91 and the average rents for both 2-bedroom apartments and houses are zero, indicating a possible lack of available rental housing. This unique situation could hint at a potential buyer’s market, but the overall rental landscape appears concerning. Before deciding, consider researching local economy factors, job availability, amenities, and long-term growth prospects to ensure a balanced move.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Romeo, 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 Romeo, 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 Romeo is a financially viable option for your relocation.