Cost of living in Holland 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 Holland 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 Holland is 87, with 100 being the average.
The cost of living index in Holland is 0.9x lower than the national average.
Holland ranks as the #57 cheapest in Michigan out of 175.
Holland ranks as the #1,101 cheapest out of 6,412 in the US.
The median home value in Holland is $179,400.
The median income in Holland is $63,853.
According to the most recent data on the cost of living, Holland has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to Michigan, Holland has a cost of living index that's 0.9x lower than Michigan's index of 92.
The standard of living in Holland ranks as #57 most affordable out of the 175 places we measured in Michigan. By definition, that implies Holland ranks as the #118 most expensive place in the Wolverine State.
For more reading on life in Holland, check out:
Six factors go into calculating the cost of living index in Holland. Here is how it fairs on each of the criteria:
The Services index in Holland is 98.
The Groceries index in Holland is 90.
The Health index in Holland is 96.
The Housing index in Holland is 70.
The Transportation index in Holland is 106.
The Utilities index in Holland is 99.
|Living Expense||Holland||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 Holland is $179,400.
The Median Rent in Holland is $980.
The Median Income in Holland is $63,853.
The Home Value To Income in Holland is 2.8x.
The Rent To Monthly Income in Holland is 0.18x.
|Median Home Value||$179,400||$172,100||$244,900|
|Home Value To Income||2.8x||2.7x||3.5x|
|Rent To Monthly Income||0.18x||0.18x||0.2x|
The cost of living varies in the cities and towns around Holland. Here's a quick look at the cost of living in the most populous nearby places:
Allendale, MI has a cost of living index of 97, 1.1x Holland.
Jenison, MI has a cost of living index of 94, 1.1x Holland.
Grandville, MI has a cost of living index of 89, 1.0x Holland.