Ishpeming, MI Cost Of Living
Cost Of Living In Ishpeming, MI Summary
Cost of living in Ishpeming 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 Ishpeming 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 Ishpeming is 77, with 100 being the average.
The cost of living index in Ishpeming is 0.8x lower than the national average.
Ishpeming ranks as the #4 cheapest in Michigan out of 175.
Ishpeming ranks as the #78 cheapest out of 6,412 in the US.
The median home value in Ishpeming is $92,900.
The median income in Ishpeming is $49,757.
Table Of Contents
Ishpeming's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Ishpeming, MI?
According to the most recent data on the cost of living, Ishpeming has an overall cost of living index of 77, which is 0.8x lower than the national index of 100.
Compared to Michigan, Ishpeming has a cost of living index that's 0.8x lower than Michigan's index of 92.
The standard of living in Ishpeming ranks as #4 most affordable out of the 175 places we measured in Michigan. By definition, that implies Ishpeming ranks as the #171 most expensive place in the Wolverine State.
For more reading on life in Ishpeming, check out:
- Living In Ishpeming
- Ishpeming Crime Report
- Search Homes For Sale In Ishpeming, MI
In Michigan
In America
Ishpeming Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Ishpeming. Here is how it fairs on each of the criteria:
The Services index in Ishpeming is 94.
The Groceries index in Ishpeming is 94.
The Health index in Ishpeming is 101.
The Housing index in Ishpeming is 46.
The Transportation index in Ishpeming is 89.
The Utilities index in Ishpeming is 97.
| Living Expense | Ishpeming | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 77 | 92 | 100 | |
| Services | 94 | 96 | 100 | |
| Groceries | 94 | 96 | 100 | |
| Health | 101 | 94 | 100 | |
| Housing | 46 | 80 | 100 | |
| Transportation | 89 | 97 | 100 | |
| Utilities | 97 | 100 | 100 | |
Ishpeming, 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 Ishpeming is $92,900.
The Median Rent in Ishpeming is $574.
The Median Income in Ishpeming is $49,757.
The Home Value To Income in Ishpeming is 1.9x.
The Rent To Monthly Income in Ishpeming is 0.14x.
| Statistic | Ishpeming | Michigan | United States |
|---|---|---|---|
| Median Home Value | $92,900 | $172,100 | $244,900 |
| Median Rent | $574 | $946 | $1,163 |
| Median Income | $49,757 | $63,202 | $69,021 |
| Home Value To Income | 1.9x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.14x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Ishpeming, MI Costs By Category
Detailed Ishpeming Services Costs Vs. Michigan
Detailed Ishpeming Groceries Costs Vs. Michigan
Detailed Ishpeming Health Costs Vs. Michigan
Detailed Ishpeming Transportation Costs Vs. Michigan
Detailed Ishpeming Utilities Costs Vs. Michigan
Ishpeming SnackAbility
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Cost Of Living In Cities Around Ishpeming
The cost of living varies in the cities and towns around Ishpeming. Here's a quick look at the cost of living in the most populous nearby places:
Marquette, MI has a cost of living index of 92, 1.2x Ishpeming.
Iron Mountain, MI has a cost of living index of 80, 1.0x Ishpeming.
| City | Population | Cost Of Living | Vs. Ishpeming |
|---|---|---|---|
| Marquette, MI | 20,561 | 92 | 1.2x |
| Iron Mountain, MI | 7,516 | 80 | 1.0x |
