Cost of living in Fenton 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 Fenton 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 Fenton is 92, with 100 being the average.
The cost of living index in Fenton is 0.9x lower than the national average.
Fenton ranks as the #102 cheapest in Michigan out of 175.
Fenton ranks as the #1,974 cheapest out of 6,412 in the US.
The median home value in Fenton is $168,800.
The median income in Fenton is $70,745.
According to the most recent data on the cost of living, Fenton has an overall cost of living index of 92, which is 0.9x lower than the national index of 100.
Compared to Michigan, Fenton has a cost of living index that's 1.0x lower than Michigan's index of 92.
The standard of living in Fenton ranks as #102 most affordable out of the 175 places we measured in Michigan. By definition, that implies Fenton ranks as the #73 most expensive place in the Wolverine State.
For more reading on life in Fenton, check out:
Six factors go into calculating the cost of living index in Fenton. Here is how it fairs on each of the criteria:
The Services index in Fenton is 111.
The Groceries index in Fenton is 99.
The Health index in Fenton is 95.
The Housing index in Fenton is 70.
The Transportation index in Fenton is 109.
The Utilities index in Fenton is 95.
|Living Expense||Fenton||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 Fenton is $168,800.
The Median Rent in Fenton is $1,116.
The Median Income in Fenton is $70,745.
The Home Value To Income in Fenton is 2.4x.
The Rent To Monthly Income in Fenton is 0.19x.
|Median Home Value||$168,800||$172,100||$244,900|
|Home Value To Income||2.4x||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 Fenton. Here's a quick look at the cost of living in the most populous nearby places:
Burton, MI has a cost of living index of 89, 1.0x Fenton.
Howell, MI has a cost of living index of 98, 1.1x Fenton.
Flushing, MI has a cost of living index of 93, 1.0x Fenton.