Oak Park, MI Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Oak Park, MI Summary

Cost of living in Oak Park 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 Oak Park 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 Oak Park is 93, with 100 being the average.

  • The cost of living index in Oak Park is 0.9x lower than the national average.

  • Oak Park ranks as the #110 cheapest in Michigan out of 175.

  • Oak Park ranks as the #2,137 cheapest out of 6,412 in the US.

  • The median home value in Oak Park is $143,700.

  • The median income in Oak Park is $58,700.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
93
Oak Park's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Oak Park, MI?

According to the most recent data on the cost of living, Oak Park has an overall cost of living index of 93, which is 0.9x lower than the national index of 100.

Compared to Michigan, Oak Park has a cost of living index that's 1.0x higher than Michigan's index of 92.

The standard of living in Oak Park ranks as #110 most affordable out of the 175 places we measured in Michigan. By definition, that implies Oak Park ranks as the #65 most expensive place in the Wolverine State.

For more reading on life in Oak Park, check out:

110 out of 175
In Michigan
2,137 out of 6,412
In America

Oak Park Cost Of Living Vs. Michigan

Six factors go into calculating the cost of living index in Oak Park. Here is how it fairs on each of the criteria:

  • The Services index in Oak Park is 107.

  • The Groceries index in Oak Park is 102.

  • The Health index in Oak Park is 97.

  • The Housing index in Oak Park is 61.

  • The Transportation index in Oak Park is 106.

  • The Utilities index in Oak Park is 98.

Living Expense Oak Park Michigan National Average
Overall 93 92 100
Services 107 96 100
Groceries 102 96 100
Health 97 94 100
Housing 61 80 100
Transportation 106 97 100
Utilities 98 100 100
For more reading on cost of living around Michigan, check out:
Oak Park Cost of Living Vs. MI

Oak Park, 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 Oak Park is $143,700.

  • The Median Rent in Oak Park is $1,176.

  • The Median Income in Oak Park is $58,700.

  • The Home Value To Income in Oak Park is 2.4x.

  • The Rent To Monthly Income in Oak Park is 0.24x.

Statistic Oak Park Michigan United States
Median Home Value $143,700 $172,100 $244,900
Median Rent $1,176 $946 $1,163
Median Income $58,700 $63,202 $69,021
Home Value To Income 2.4x 2.7x 3.5x
Rent To Monthly Income 0.24x 0.18x 0.2x
Search Homes For Sale In Oak Park, MI
$143,700
Median Home Value
$1,176
Median Rent
$58,700
Median Income

Oak Park, MI Costs By Category

Detailed Oak Park Services Costs Vs. Michigan

Item Oak Park Michigan
Shampoo $0.94 $1.06
Movie $11.26 $10.68
Bowling $19.8 $14.67
Haircut $18.95 $18.62
Beauty Salon $54.27 $39.05

Detailed Oak Park Groceries Costs Vs. Michigan

Item Oak Park Michigan
Ground Beef $4.55 $4.22
Fried Chicken $1.13 $1.39
Milk $1.44 $2.05
Potatoes $4.18 $3.29
Pizza $10.82 $10.62
Beer $8.42 $9.38
Toothpaste $2.43 $2.34

Detailed Oak Park Health Costs Vs. Michigan

Item Oak Park Michigan
Optometrist $81.52 $108.57
Doctor $104.59 $116.17
Dentist $99.57 $99.13

Detailed Oak Park Transportation Costs Vs. Michigan

Item Oak Park Michigan
Gasoline $2.25 $2.22
Tire Balancing $58.95 $50.07

Detailed Oak Park Utilities Costs Vs. Michigan

Item Oak Park Michigan
All Electricity $159.51 $167.67
Phone $178.81 $175.64

Oak Park SnackAbility

7
/10
Overall SnackAbility
Jobs
6/10
Housing
8
Affordability
7
Diversity
9
Safety
6
Amenities
9.5
Education
8.5
Commute
8

Cost Of Living In Cities Around Oak Park

The cost of living varies in the cities and towns around Oak Park. Here's a quick look at the cost of living in the most populous nearby places:

  • Troy, MI has a cost of living index of 113, 1.2x Oak Park.

  • Southfield, MI has a cost of living index of 96, 1.0x Oak Park.

  • Rochester Hills, MI has a cost of living index of 111, 1.2x Oak Park.

City Population Cost Of Living Vs. Oak Park
Troy, MI 86,912 113 1.2x
Southfield, MI 76,196 96 1.0x
Rochester Hills, MI 75,990 111 1.2x
Novi, MI 65,369 113 1.2x
Royal Oak, MI 58,368 101 1.1x
Madison Heights, MI 28,719 88 0.9x
Birmingham, MI 21,728 134 1.4x
Ferndale, MI 19,414 94 1.0x
Berkley, MI 15,234 102 1.1x
Hazel Park, MI 15,213 90 1.0x

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