Cost of living in Michigan City 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 Michigan City is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, 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 Michigan City is 85, with 100 being the average.
The cost of living index in Michigan City is 0.8x lower than the national average.
Michigan City ranks as the #40 cheapest in Indiana out of 124.
Michigan City ranks as the #777 cheapest out of 6,412 in the US.
The median home value in Michigan City is $100,300.
The median income in Michigan City is $47,197.
According to the most recent data on the cost of living, Michigan City has an overall cost of living index of 85, which is 0.8x lower than the national index of 100.
Compared to Indiana, Michigan City has a cost of living index that's 0.9x lower than Indiana's index of 91.
The standard of living in Michigan City ranks as #40 most affordable out of the 124 places we measured in Indiana. By definition, that implies Michigan City ranks as the #84 most expensive place in the Hoosier State.
For more reading on life in Michigan City, check out:
Six factors go into calculating the cost of living index in Michigan City. Here is how it fairs on each of the criteria:
The Services index in Michigan City is 101.
The Groceries index in Michigan City is 93.
The Health index in Michigan City is 98.
The Housing index in Michigan City is 57.
The Transportation index in Michigan City is 91.
The Utilities index in Michigan City is 91.
|Living Expense||Michigan City||Indiana||National Average|
Housing swings affordability the most between places in Indiana, 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 Michigan City is $100,300.
The Median Rent in Michigan City is $787.
The Median Income in Michigan City is $47,197.
The Home Value To Income in Michigan City is 2.1x.
The Rent To Monthly Income in Michigan City is 0.2x.
|Statistic||Michigan City||Indiana||United States|
|Median Home Value||$100,300||$158,500||$244,900|
|Home Value To Income||2.1x||2.6x||3.5x|
|Rent To Monthly Income||0.2x||0.17x||0.2x|