Cost of living in Belding 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 Belding 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 Belding is 81, with 100 being the average.
The cost of living index in Belding is 0.8x lower than the national average.
Belding ranks as the #22 cheapest in Michigan out of 175.
Belding ranks as the #290 cheapest out of 6,412 in the US.
The median home value in Belding is $109,200.
The median income in Belding is $48,166.
According to the most recent data on the cost of living, Belding has an overall cost of living index of 81, which is 0.8x lower than the national index of 100.
Compared to Michigan, Belding has a cost of living index that's 0.9x lower than Michigan's index of 92.
The standard of living in Belding ranks as #22 most affordable out of the 175 places we measured in Michigan. By definition, that implies Belding ranks as the #153 most expensive place in the Wolverine State.
For more reading on life in Belding, check out:
Six factors go into calculating the cost of living index in Belding. Here is how it fairs on each of the criteria:
The Services index in Belding is 98.
The Groceries index in Belding is 88.
The Health index in Belding is 97.
The Housing index in Belding is 50.
The Transportation index in Belding is 109.
The Utilities index in Belding is 100.
|Living Expense||Belding||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 Belding is $109,200.
The Median Rent in Belding is $768.
The Median Income in Belding is $48,166.
The Home Value To Income in Belding is 2.3x.
The Rent To Monthly Income in Belding is 0.19x.
|Median Home Value||$109,200||$172,100||$244,900|
|Home Value To Income||2.3x||2.7x||3.5x|
|Rent To Monthly Income||0.19x||0.18x||0.2x|
The cost of living varies in the cities and towns around Belding. Here's a quick look at the cost of living in the most populous nearby places:
Forest Hills, MI has a cost of living index of 112, 1.4x Belding.
Northview, MI has a cost of living index of 94, 1.2x Belding.
Ionia, MI has a cost of living index of 85, 1.0x Belding.