Cost of living in Ann Arbor 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 Ann Arbor 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 Ann Arbor is 113, with 100 being the average.
The cost of living index in Ann Arbor is 1.1x higher than the national average.
Ann Arbor ranks as the #165 cheapest in Michigan out of 175.
Ann Arbor ranks as the #4,363 cheapest out of 6,412 in the US.
The median home value in Ann Arbor is $366,600.
The median income in Ann Arbor is $73,276.
According to the most recent data on the cost of living, Ann Arbor has an overall cost of living index of 113, which is 1.1x higher than the national index of 100.
Compared to Michigan, Ann Arbor has a cost of living index that's 1.2x higher than Michigan's index of 92.
The standard of living in Ann Arbor ranks as #165 most affordable out of the 175 places we measured in Michigan. By definition, that implies Ann Arbor ranks as the #10 most expensive place in the Wolverine State.
For more reading on life in Ann Arbor, check out:
Six factors go into calculating the cost of living index in Ann Arbor. Here is how it fairs on each of the criteria:
The Services index in Ann Arbor is 108.
The Groceries index in Ann Arbor is 98.
The Health index in Ann Arbor is 98.
The Housing index in Ann Arbor is 131.
The Transportation index in Ann Arbor is 109.
The Utilities index in Ann Arbor is 98.
|Living Expense||Ann Arbor||Michigan||National Average|
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 Ann Arbor is $366,600.
The Median Rent in Ann Arbor is $1,382.
The Median Income in Ann Arbor is $73,276.
The Home Value To Income in Ann Arbor is 5.0x.
The Rent To Monthly Income in Ann Arbor is 0.23x.
|Statistic||Ann Arbor||Michigan||United States|
|Median Home Value||$366,600||$172,100||$244,900|
|Home Value To Income||5.0x||2.7x||3.5x|
|Rent To Monthly Income||0.23x||0.18x||0.2x|
The cost of living varies in the cities and towns around Ann Arbor. Here's a quick look at the cost of living in the most populous nearby places:
Westland, MI has a cost of living index of 92, 0.8x Ann Arbor.
Novi, MI has a cost of living index of 113, 1.0x Ann Arbor.
Ypsilanti, MI has a cost of living index of 96, 0.8x Ann Arbor.
|City||Population||Cost Of Living||Vs. Ann Arbor|
|South Lyon, MI||11,786||101||0.9x|
|Whitmore Lake, MI||8,019||99||0.9x|