Lake Fenton, MI Cost Of Living
Cost Of Living In Lake Fenton, MI Summary
Cost of living in Lake 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 Lake 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 Lake Fenton is 111, with 100 being the average.
The cost of living index in Lake Fenton is 1.1x higher than the national average.
Lake Fenton ranks as the #163 cheapest in Michigan out of 180.
Lake Fenton ranks as the #3,765 cheapest out of 6,489 in the US.
The median home value in Lake Fenton is $443,115.
The median income in Lake Fenton is $112,676.
Table Of Contents
Lake Fenton's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Fenton, MI?
According to the most recent data on the cost of living, Lake Fenton has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Michigan, Lake Fenton has a cost of living index that's 1.2x higher than Michigan's index of 90.
The standard of living in Lake Fenton ranks as #163 most affordable out of the 180 places we measured in Michigan. By definition, that implies Lake Fenton ranks as the #17 most expensive place in the Wolverine State.
For more reading on life in Lake Fenton, check out:
In Michigan
In America
Lake Fenton Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Lake Fenton. Here is how it fairs on each of the criteria:
The Services index in Lake Fenton is 102.
The Groceries index in Lake Fenton is 104.
The Health index in Lake Fenton is 101.
The Housing index in Lake Fenton is 139.
The Transportation index in Lake Fenton is 101.
The Utilities index in Lake Fenton is 93.
| Living Expense | Lake Fenton | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 111 | 90 | 100 | |
| Services | 102 | 93 | 100 | |
| Groceries | 104 | 97 | 100 | |
| Health | 101 | 91 | 100 | |
| Housing | 139 | 72 | 100 | |
| Transportation | 101 | 96 | 100 | |
| Utilities | 93 | 99 | 100 | |
Lake Fenton, 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 Lake Fenton is $443,115.
The Median Rent in Lake Fenton is $1,343.
The Median Income in Lake Fenton is $112,676.
The Home Value To Income in Lake Fenton is 3.9x.
The Rent To Monthly Income in Lake Fenton is 0.14x.
| Statistic | Lake Fenton | Michigan | United States |
|---|---|---|---|
| Median Home Value | $443,115 | $258,642 | $303,400 |
| Median Rent | $1,343 | $1,084 | $1,348 |
| Median Income | $112,676 | $71,149 | $78,538 |
| Home Value To Income | 3.9x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Fenton, MI Costs By Category
Detailed Lake Fenton Services Costs Vs. Michigan
| Item | Lake Fenton | 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 Lake Fenton Groceries Costs Vs. Michigan
| Item | Lake Fenton | 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 Lake Fenton Health Costs Vs. Michigan
| Item | Lake Fenton | Michigan |
|---|---|---|
| Optometrist | $85.0 | $125.68 |
| Doctor | $103.33 | $135.78 |
| Dentist | $91.0 | $113.29 |
Detailed Lake Fenton Transportation Costs Vs. Michigan
| Item | Lake Fenton | Michigan |
|---|---|---|
| Gasoline | $3.35 | $3.46 |
| Tire Balancing | $56.0 | $59.92 |
Detailed Lake Fenton Utilities Costs Vs. Michigan
| Item | Lake Fenton | Michigan |
|---|---|---|
| All Electricity | $219.2 | $193.99 |
| Phone | $184.44 | $192.25 |
Lake Fenton SnackAbility
/10
Cost Of Living In Cities Around Lake Fenton
The cost of living varies in the cities and towns around Lake 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 90, 0.8x Lake Fenton.
Fenton, MI has a cost of living index of 96, 0.9x Lake Fenton.
Howell, MI has a cost of living index of 98, 0.9x Lake Fenton.
| City | Population | Cost Of Living | Vs. Lake Fenton |
|---|---|---|---|
| Burton, MI | 29,529 | 90 | 0.8x |
| Fenton, MI | 11,950 | 96 | 0.9x |
| Howell, MI | 10,074 | 98 | 0.9x |
| Beecher, MI | 8,507 | 82 | 0.7x |
| Flushing, MI | 8,323 | 91 | 0.8x |
| Grand Blanc, MI | 7,995 | 99 | 0.9x |
| Milford, MI | 6,467 | 110 | 1.0x |
| Holly, MI | 5,971 | 95 | 0.9x |
| Swartz Creek, MI | 5,856 | 94 | 0.8x |
| Davison, MI | 5,082 | 93 | 0.8x |
