Farmington Hills, MI Cost Of Living

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

Cost Of Living In Farmington Hills, MI Summary

Cost of living in Farmington Hills 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 Farmington Hills 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 Farmington Hills is 107, with 100 being the average.

  • The cost of living index in Farmington Hills is 1.1x higher than the national average.

  • Farmington Hills ranks as the #158 cheapest in Michigan out of 175.

  • Farmington Hills ranks as the #3,867 cheapest out of 6,412 in the US.

  • The median home value in Farmington Hills is $280,100.

  • The median income in Farmington Hills is $93,434.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
107
Farmington Hills's Overall Cost Of Living
1.1x
Higher Than The National Average

What is the cost of living in Farmington Hills, MI?

According to the most recent data on the cost of living, Farmington Hills has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.

Compared to Michigan, Farmington Hills has a cost of living index that's 1.2x higher than Michigan's index of 92.

The standard of living in Farmington Hills ranks as #158 most affordable out of the 175 places we measured in Michigan. By definition, that implies Farmington Hills ranks as the #17 most expensive place in the Wolverine State.

For more reading on life in Farmington Hills, check out:

158 out of 175
In Michigan
3,867 out of 6,412
In America

Farmington Hills Cost Of Living Vs. Michigan

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

  • The Services index in Farmington Hills is 110.

  • The Groceries index in Farmington Hills is 98.

  • The Health index in Farmington Hills is 95.

  • The Housing index in Farmington Hills is 117.

  • The Transportation index in Farmington Hills is 107.

  • The Utilities index in Farmington Hills is 97.

Living Expense Farmington Hills Michigan National Average
Overall 107 92 100
Services 110 96 100
Groceries 98 96 100
Health 95 94 100
Housing 117 80 100
Transportation 107 97 100
Utilities 97 100 100
For more reading on cost of living around Michigan, check out:
Farmington Hills Cost of Living Vs. MI

Farmington Hills, 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 Farmington Hills is $280,100.

  • The Median Rent in Farmington Hills is $1,273.

  • The Median Income in Farmington Hills is $93,434.

  • The Home Value To Income in Farmington Hills is 3.0x.

  • The Rent To Monthly Income in Farmington Hills is 0.16x.

Statistic Farmington Hills Michigan United States
Median Home Value $280,100 $172,100 $244,900
Median Rent $1,273 $946 $1,163
Median Income $93,434 $63,202 $69,021
Home Value To Income 3.0x 2.7x 3.5x
Rent To Monthly Income 0.16x 0.18x 0.2x
Search Homes For Sale In Farmington Hills, MI
$280,100
Median Home Value
$1,273
Median Rent
$93,434
Median Income

Farmington Hills, MI Costs By Category

Detailed Farmington Hills Services Costs Vs. Michigan

Item Farmington Hills 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 Farmington Hills Groceries Costs Vs. Michigan

Item Farmington Hills 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 Farmington Hills Health Costs Vs. Michigan

Item Farmington Hills Michigan
Optometrist $81.52 $108.57
Doctor $104.59 $116.17
Dentist $99.57 $99.13

Detailed Farmington Hills Transportation Costs Vs. Michigan

Item Farmington Hills Michigan
Gasoline $2.25 $2.22
Tire Balancing $58.95 $50.07

Detailed Farmington Hills Utilities Costs Vs. Michigan

Item Farmington Hills Michigan
All Electricity $159.51 $167.67
Phone $178.81 $175.64

Farmington Hills SnackAbility

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

Cost Of Living In Cities Around Farmington Hills

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

  • Livonia, MI has a cost of living index of 102, 1.0x Farmington Hills.

  • Troy, MI has a cost of living index of 113, 1.1x Farmington Hills.

  • Southfield, MI has a cost of living index of 96, 0.9x Farmington Hills.

City Population Cost Of Living Vs. Farmington Hills
Livonia, MI 95,294 102 1.0x
Troy, MI 86,912 113 1.1x
Southfield, MI 76,196 96 0.9x
Rochester Hills, MI 75,990 111 1.0x
Novi, MI 65,369 113 1.1x
Royal Oak, MI 58,368 101 0.9x
Birmingham, MI 21,728 134 1.3x
Berkley, MI 15,234 102 1.0x
Clawson, MI 11,482 99 0.9x
Farmington, MI 11,481 99 0.9x

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