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 103, with 100 being the average.
The cost of living index in Lake Fenton is 1.0x higher than the national average.
Lake Fenton ranks as the #156 cheapest in Michigan out of 175.
Lake Fenton ranks as the #3,487 cheapest out of 6,412 in the US.
The median home value in Lake Fenton is $329,400.
The median income in Lake Fenton is $100,712.
According to the most recent data on the cost of living, Lake Fenton has an overall cost of living index of 103, which is 1.0x higher than the national index of 100.
Compared to Michigan, Lake Fenton has a cost of living index that's 1.1x higher than Michigan's index of 92.
The standard of living in Lake Fenton ranks as #156 most affordable out of the 175 places we measured in Michigan. By definition, that implies Lake Fenton ranks as the #19 most expensive place in the Wolverine State.
For more reading on life in Lake Fenton, check out:
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 107.
The Groceries index in Lake Fenton is 100.
The Health index in Lake Fenton is 97.
The Housing index in Lake Fenton is 98.
The Transportation index in Lake Fenton is 108.
The Utilities index in Lake Fenton is 97.
|Living Expense||Lake 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 Lake Fenton is $329,400.
The Median Rent in Lake Fenton is $999.
The Median Income in Lake Fenton is $100,712.
The Home Value To Income in Lake Fenton is 3.3x.
The Rent To Monthly Income in Lake Fenton is 0.12x.
|Statistic||Lake Fenton||Michigan||United States|
|Median Home Value||$329,400||$172,100||$244,900|
|Home Value To Income||3.3x||2.7x||3.5x|
|Rent To Monthly Income||0.12x||0.18x||0.2x|
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 89, 0.9x Lake Fenton.
Fenton, MI has a cost of living index of 92, 0.9x Lake Fenton.
Howell, MI has a cost of living index of 98, 1.0x Lake Fenton.