Grosse Pointe Woods, MI Cost Of Living
Cost Of Living In Grosse Pointe Woods, MI Summary
Cost of living in Grosse Pointe Woods 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 Grosse Pointe Woods 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 Grosse Pointe Woods is 112, with 100 being the average.
The cost of living index in Grosse Pointe Woods is 1.1x higher than the national average.
Grosse Pointe Woods ranks as the #164 cheapest in Michigan out of 180.
Grosse Pointe Woods ranks as the #3,863 cheapest out of 6,489 in the US.
The median home value in Grosse Pointe Woods is $348,164.
The median income in Grosse Pointe Woods is $129,442.
Table Of Contents
Grosse Pointe Woods's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Grosse Pointe Woods, MI?
According to the most recent data on the cost of living, Grosse Pointe Woods has an overall cost of living index of 112, which is 1.1x higher than the national index of 100.
Compared to Michigan, Grosse Pointe Woods has a cost of living index that's 1.2x higher than Michigan's index of 90.
The standard of living in Grosse Pointe Woods ranks as #164 most affordable out of the 180 places we measured in Michigan. By definition, that implies Grosse Pointe Woods ranks as the #16 most expensive place in the Wolverine State.
For more reading on life in Grosse Pointe Woods, check out:
In Michigan
In America
Grosse Pointe Woods Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Grosse Pointe Woods. Here is how it fairs on each of the criteria:
The Services index in Grosse Pointe Woods is 103.
The Groceries index in Grosse Pointe Woods is 105.
The Health index in Grosse Pointe Woods is 103.
The Housing index in Grosse Pointe Woods is 146.
The Transportation index in Grosse Pointe Woods is 101.
The Utilities index in Grosse Pointe Woods is 95.
| Living Expense | Grosse Pointe Woods | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 112 | 90 | 100 | |
| Services | 103 | 93 | 100 | |
| Groceries | 105 | 97 | 100 | |
| Health | 103 | 91 | 100 | |
| Housing | 146 | 72 | 100 | |
| Transportation | 101 | 96 | 100 | |
| Utilities | 95 | 99 | 100 | |
Grosse Pointe Woods, 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 2019-2023. The key points are:
The Median Home Value in Grosse Pointe Woods is $348,164.
The Median Rent in Grosse Pointe Woods is $1,755.
The Median Income in Grosse Pointe Woods is $129,442.
The Home Value To Income in Grosse Pointe Woods is 2.7x.
The Rent To Monthly Income in Grosse Pointe Woods is 0.16x.
| Statistic | Grosse Pointe Woods | Michigan | United States |
|---|---|---|---|
| Median Home Value | $348,164 | $258,642 | $303,400 |
| Median Rent | $1,755 | $1,084 | $1,348 |
| Median Income | $129,442 | $71,149 | $78,538 |
| Home Value To Income | 2.7x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.16x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Grosse Pointe Woods, MI Costs By Category
Detailed Grosse Pointe Woods Services Costs Vs. Michigan
| Item | Grosse Pointe Woods | Michigan |
|---|---|---|
| Shampoo | $1.13 | $1.28 |
| Movie | $12.99 | $12.13 |
| Bowling | $12.33 | $18 |
| Haircut | $16.8 | $24.26 |
| Beauty Salon | $24.78 | $45.56 |
Detailed Grosse Pointe Woods Groceries Costs Vs. Michigan
| Item | Grosse Pointe Woods | Michigan |
|---|---|---|
| Ground Beef | $5.75 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $4.8 | $4.93 |
| Pizza | $8.99 | $12.09 |
| Beer | $9.04 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Grosse Pointe Woods Health Costs Vs. Michigan
| Item | Grosse Pointe Woods | Michigan |
|---|---|---|
| Optometrist | $85.0 | $125.68 |
| Doctor | $103.33 | $135.78 |
| Dentist | $91.0 | $113.29 |
Detailed Grosse Pointe Woods Transportation Costs Vs. Michigan
| Item | Grosse Pointe Woods | Michigan |
|---|---|---|
| Gasoline | $3.35 | $3.46 |
| Tire Balancing | $56.0 | $59.92 |
Detailed Grosse Pointe Woods Utilities Costs Vs. Michigan
| Item | Grosse Pointe Woods | Michigan |
|---|---|---|
| All Electricity | $219.2 | $193.99 |
| Phone | $184.44 | $192.25 |
Grosse Pointe Woods SnackAbility
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Cost Of Living In Cities Around Grosse Pointe Woods
The cost of living varies in the cities and towns around Grosse Pointe Woods. Here's a quick look at the cost of living in the most populous nearby places:
Troy, MI has a cost of living index of 120, 1.1x Grosse Pointe Woods.
St. Clair Shores, MI has a cost of living index of 96, 0.9x Grosse Pointe Woods.
Royal Oak, MI has a cost of living index of 107, 1.0x Grosse Pointe Woods.
| City | Population | Cost Of Living | Vs. Grosse Pointe Woods |
|---|---|---|---|
| Troy, MI | 87,307 | 120 | 1.1x |
| St. Clair Shores, MI | 58,287 | 96 | 0.9x |
| Royal Oak, MI | 57,880 | 107 | 1.0x |
| Roseville, MI | 47,240 | 93 | 0.8x |
| Eastpointe, MI | 34,003 | 88 | 0.8x |
| Birmingham, MI | 21,612 | 149 | 1.3x |
| Harper Woods, MI | 15,205 | 91 | 0.8x |
| Berkley, MI | 15,084 | 108 | 1.0x |
| Fraser, MI | 14,604 | 97 | 0.9x |
| Grosse Pointe Park, MI | 11,394 | 122 | 1.1x |
