Michigan's cost of living index is 92 — 8.0% below the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
92
US avg = 100
vs. National Avg
-8.0%
Less expensive
Median Income
$59,584
Michigan median household
Equiv. at US Avg
$64,765
Same purchasing power
| CoL Index | 92 | MIT/MERIC composite index (US avg = 100) |
| vs. National | 8.0% | Below average cost |
| Median Household Income | $59,584 | Michigan median (2023 ACS) |
| National Purchasing Power | $64,765 | Equivalent $ at US avg CoL |
| Overall Category | Low | Qualitative classification |
| Population | 10,077,331 | 2020 US Census |
With a cost of living index of 92, Michigan is 8% below the national average. Lower costs in Michigan mean your dollar goes further. A salary of $59,584 in Michigan provides the equivalent purchasing power of $64,765 in a state at the national average.
Housing is typically the largest driver of cost of living differences between states.Michigan's median home price of $235,000 is well below the national median of approximately $310,000. Other factors include state income tax (4.25% top rate in Michigan), sales tax (6.00% state rate), and local property tax rates (1.54%).
