Coldwater, MI Cost Of Living
Cost Of Living In Coldwater, MI Summary
Cost of living in Coldwater research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Coldwater is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Michigan, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Coldwater is 78, with 100 being the average.
The cost of living index in Coldwater is 0.8x lower than the national average.
Coldwater ranks as the #7 cheapest in Michigan out of 175.
Coldwater ranks as the #113 cheapest out of 6,412 in the US.
The median home value in Coldwater is $99,800.
The median income in Coldwater is $45,021.
Table Of Contents
Coldwater's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Coldwater, MI?
According to the most recent data on the cost of living, Coldwater has an overall cost of living index of 78, which is 0.8x lower than the national index of 100.
Compared to Michigan, Coldwater has a cost of living index that's 0.8x lower than Michigan's index of 92.
The standard of living in Coldwater ranks as #7 most affordable out of the 175 places we measured in Michigan. By definition, that implies Coldwater ranks as the #168 most expensive place in the Wolverine State.
For more reading on life in Coldwater, check out:
- Living In Coldwater
- Coldwater Crime Report
- Search Homes For Sale In Coldwater, MI
In Michigan
In America
Coldwater Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Coldwater. Here is how it fairs on each of the criteria:
The Services index in Coldwater is 85.
The Groceries index in Coldwater is 74.
The Health index in Coldwater is 92.
The Housing index in Coldwater is 50.
The Transportation index in Coldwater is 95.
The Utilities index in Coldwater is 100.
| Living Expense | Coldwater | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 78 | 92 | 100 | |
| Services | 85 | 96 | 100 | |
| Groceries | 74 | 96 | 100 | |
| Health | 92 | 94 | 100 | |
| Housing | 50 | 80 | 100 | |
| Transportation | 95 | 97 | 100 | |
| Utilities | 100 | 100 | 100 | |
Coldwater, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Coldwater is $99,800.
The Median Rent in Coldwater is $806.
The Median Income in Coldwater is $45,021.
The Home Value To Income in Coldwater is 2.2x.
The Rent To Monthly Income in Coldwater is 0.21x.
| Statistic | Coldwater | Michigan | United States |
|---|---|---|---|
| Median Home Value | $99,800 | $172,100 | $244,900 |
| Median Rent | $806 | $946 | $1,163 |
| Median Income | $45,021 | $63,202 | $69,021 |
| Home Value To Income | 2.2x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Coldwater, MI Costs By Category
Detailed Coldwater Services Costs Vs. Michigan
Detailed Coldwater Groceries Costs Vs. Michigan
Detailed Coldwater Health Costs Vs. Michigan
Detailed Coldwater Transportation Costs Vs. Michigan
Detailed Coldwater Utilities Costs Vs. Michigan
Coldwater SnackAbility
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Cost Of Living In Cities Around Coldwater
The cost of living varies in the cities and towns around Coldwater. Here's a quick look at the cost of living in the most populous nearby places:
Portage, MI has a cost of living index of 87, 1.1x Coldwater.
Goshen, IN has a cost of living index of 87, 1.1x Coldwater.
Union, MO has a cost of living index of 89, 1.1x Coldwater.
| City | Population | Cost Of Living | Vs. Coldwater |
|---|---|---|---|
| Portage, MI | 48,767 | 87 | 1.1x |
| Goshen, IN | 34,792 | 87 | 1.1x |
| Union, MO | 12,108 | 89 | 1.1x |
| Westwood, MI | 8,920 | 83 | 1.1x |
| Bryan, OH | 8,668 | 87 | 1.1x |
| Albion, MI | 8,061 | 75 | 1.0x |
| Marshall, MI | 6,832 | 80 | 1.0x |
| Garrett, IN | 6,592 | 84 | 1.1x |
| Eastwood, MI | 6,569 | 79 | 1.0x |
| Comstock Northwest, MI | 5,438 | 84 | 1.1x |
