Cost of living in Flat Rock 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 Flat Rock 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 Flat Rock is 94, with 100 being the average.
The cost of living index in Flat Rock is 0.9x lower than the national average.
Flat Rock ranks as the #117 cheapest in Michigan out of 175.
Flat Rock ranks as the #2,290 cheapest out of 6,412 in the US.
The median home value in Flat Rock is $159,000.
The median income in Flat Rock is $60,792.
According to the most recent data on the cost of living, Flat Rock has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Michigan, Flat Rock has a cost of living index that's 1.0x higher than Michigan's index of 92.
The standard of living in Flat Rock ranks as #117 most affordable out of the 175 places we measured in Michigan. By definition, that implies Flat Rock ranks as the #58 most expensive place in the Wolverine State.
For more reading on life in Flat Rock, check out:
Six factors go into calculating the cost of living index in Flat Rock. Here is how it fairs on each of the criteria:
The Services index in Flat Rock is 108.
The Groceries index in Flat Rock is 99.
The Health index in Flat Rock is 97.
The Housing index in Flat Rock is 69.
The Transportation index in Flat Rock is 108.
The Utilities index in Flat Rock is 98.
|Living Expense||Flat Rock||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 Flat Rock is $159,000.
The Median Rent in Flat Rock is $952.
The Median Income in Flat Rock is $60,792.
The Home Value To Income in Flat Rock is 2.6x.
The Rent To Monthly Income in Flat Rock is 0.19x.
|Statistic||Flat Rock||Michigan||United States|
|Median Home Value||$159,000||$172,100||$244,900|
|Home Value To Income||2.6x||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 Flat Rock. Here's a quick look at the cost of living in the most populous nearby places:
Dearborn, MI has a cost of living index of 96, 1.0x Flat Rock.
Westland, MI has a cost of living index of 92, 1.0x Flat Rock.
Taylor, MI has a cost of living index of 88, 0.9x Flat Rock.
|City||Population||Cost Of Living||Vs. Flat Rock|
|Dearborn Heights, MI||62,334||91||1.0x|
|Lincoln Park, MI||39,741||89||0.9x|
|Allen Park, MI||28,431||91||1.0x|