Cost of Living in Vernon, MI
Housing
The housing market plays a significant role in determining the cost of living in Vernon, 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
When considering a move to Vernon, MI, the 91 index reveals a significant opportunity for potential residents. With a median home price of 150000, purchasing a home could be a more favorable option compared to renting, especially since both the average rents for a 2BR apartment and a 2BR house currently seem to be unlisted. Additionally, areas with a low housing index often indicate a buyer's market, providing leverage in negotiations. It would be essential to look into local amenities and community resources, too, to ensure your new home meets 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 Vernon, 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 Vernon, 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 Vernon is a financially viable option for your relocation.