Walled Lake, MI Cost Of Living
Cost Of Living In Walled Lake, MI Summary
Cost of living in Walled Lake 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 Walled Lake 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 Walled Lake is 94, with 100 being the average.
The cost of living index in Walled Lake is 0.9x lower than the national average.
Walled Lake ranks as the #117 cheapest in Michigan out of 175.
Walled Lake ranks as the #2,290 cheapest out of 6,412 in the US.
The median home value in Walled Lake is $162,800.
The median income in Walled Lake is $56,193.
Table Of Contents
Walled Lake's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Walled Lake, MI?
According to the most recent data on the cost of living, Walled Lake has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Michigan, Walled Lake has a cost of living index that's 1.0x higher than Michigan's index of 92.
The standard of living in Walled Lake ranks as #117 most affordable out of the 175 places we measured in Michigan. By definition, that implies Walled Lake ranks as the #58 most expensive place in the Wolverine State.
For more reading on life in Walled Lake, check out:
- Living In Walled Lake
- Walled Lake Crime Report
- Search Homes For Sale In Walled Lake, MI
In Michigan
In America
Walled Lake Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Walled Lake. Here is how it fairs on each of the criteria:
The Services index in Walled Lake is 111.
The Groceries index in Walled Lake is 98.
The Health index in Walled Lake is 98.
The Housing index in Walled Lake is 78.
The Transportation index in Walled Lake is 105.
The Utilities index in Walled Lake is 96.
| Living Expense | Walled Lake | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 94 | 92 | 100 | |
| Services | 111 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 98 | 94 | 100 | |
| Housing | 78 | 80 | 100 | |
| Transportation | 105 | 97 | 100 | |
| Utilities | 96 | 100 | 100 | |
Walled Lake, 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 Walled Lake is $162,800.
The Median Rent in Walled Lake is $1,078.
The Median Income in Walled Lake is $56,193.
The Home Value To Income in Walled Lake is 2.9x.
The Rent To Monthly Income in Walled Lake is 0.23x.
| Statistic | Walled Lake | Michigan | United States |
|---|---|---|---|
| Median Home Value | $162,800 | $172,100 | $244,900 |
| Median Rent | $1,078 | $946 | $1,163 |
| Median Income | $56,193 | $63,202 | $69,021 |
| Home Value To Income | 2.9x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Walled Lake, MI Costs By Category
Detailed Walled Lake Services Costs Vs. Michigan
| Item | Walled Lake | 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 Walled Lake Groceries Costs Vs. Michigan
| Item | Walled Lake | 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 Walled Lake Health Costs Vs. Michigan
| Item | Walled Lake | Michigan |
|---|---|---|
| Optometrist | $81.52 | $108.57 |
| Doctor | $104.59 | $116.17 |
| Dentist | $99.57 | $99.13 |
Detailed Walled Lake Transportation Costs Vs. Michigan
| Item | Walled Lake | Michigan |
|---|---|---|
| Gasoline | $2.25 | $2.22 |
| Tire Balancing | $58.95 | $50.07 |
Detailed Walled Lake Utilities Costs Vs. Michigan
| Item | Walled Lake | Michigan |
|---|---|---|
| All Electricity | $159.51 | $167.67 |
| Phone | $178.81 | $175.64 |
Walled Lake SnackAbility
/10
Cost Of Living In Cities Around Walled Lake
The cost of living varies in the cities and towns around Walled Lake. 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 Walled Lake.
Farmington Hills, MI has a cost of living index of 107, 1.1x Walled Lake.
Rochester Hills, MI has a cost of living index of 111, 1.2x Walled Lake.
| City | Population | Cost Of Living | Vs. Walled Lake |
|---|---|---|---|
| Troy, MI | 86,912 | 113 | 1.2x |
| Farmington Hills, MI | 83,749 | 107 | 1.1x |
| Rochester Hills, MI | 75,990 | 111 | 1.2x |
| Novi, MI | 65,369 | 113 | 1.2x |
| Royal Oak, MI | 58,368 | 101 | 1.1x |
| Birmingham, MI | 21,728 | 134 | 1.4x |
| Wixom, MI | 16,853 | 101 | 1.1x |
| Berkley, MI | 15,234 | 102 | 1.1x |
| Clawson, MI | 11,482 | 99 | 1.1x |
| Farmington, MI | 11,481 | 99 | 1.1x |
