Royal Oak, MI Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Royal Oak, MI Summary

Cost of living in Royal Oak 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 Royal Oak 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 Royal Oak is 101, with 100 being the average.

  • The cost of living index in Royal Oak is 1.0x higher than the national average.

  • Royal Oak ranks as the #148 cheapest in Michigan out of 175.

  • Royal Oak ranks as the #3,263 cheapest out of 6,412 in the US.

  • The median home value in Royal Oak is $249,900.

  • The median income in Royal Oak is $87,316.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
101
Royal Oak's Overall Cost Of Living
1.0x
Higher Than The National Average

What is the cost of living in Royal Oak, MI?

According to the most recent data on the cost of living, Royal Oak has an overall cost of living index of 101, which is 1.0x higher than the national index of 100.

Compared to Michigan, Royal Oak has a cost of living index that's 1.1x higher than Michigan's index of 92.

The standard of living in Royal Oak ranks as #148 most affordable out of the 175 places we measured in Michigan. By definition, that implies Royal Oak ranks as the #27 most expensive place in the Wolverine State.

For more reading on life in Royal Oak, check out:

148 out of 175
In Michigan
3,263 out of 6,412
In America

Royal Oak Cost Of Living Vs. Michigan

Six factors go into calculating the cost of living index in Royal Oak. Here is how it fairs on each of the criteria:

  • The Services index in Royal Oak is 109.

  • The Groceries index in Royal Oak is 102.

  • The Health index in Royal Oak is 97.

  • The Housing index in Royal Oak is 97.

  • The Transportation index in Royal Oak is 105.

  • The Utilities index in Royal Oak is 98.

Living Expense Royal Oak Michigan National Average
Overall 101 92 100
Services 109 96 100
Groceries 102 96 100
Health 97 94 100
Housing 97 80 100
Transportation 105 97 100
Utilities 98 100 100
For more reading on cost of living around Michigan, check out:
Royal Oak Cost of Living Vs. MI

Royal Oak, 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 2017-2021. The key points are:

  • The Median Home Value in Royal Oak is $249,900.

  • The Median Rent in Royal Oak is $1,190.

  • The Median Income in Royal Oak is $87,316.

  • The Home Value To Income in Royal Oak is 2.9x.

  • The Rent To Monthly Income in Royal Oak is 0.16x.

Statistic Royal Oak Michigan United States
Median Home Value $249,900 $172,100 $244,900
Median Rent $1,190 $946 $1,163
Median Income $87,316 $63,202 $69,021
Home Value To Income 2.9x 2.7x 3.5x
Rent To Monthly Income 0.16x 0.18x 0.2x
Search Homes For Sale In Royal Oak, MI
$249,900
Median Home Value
$1,190
Median Rent
$87,316
Median Income

Royal Oak, MI Costs By Category

Detailed Royal Oak Services Costs Vs. Michigan

Item Royal Oak Michigan
Shampoo $0.94 $1.06
Movie $11.26 $10.68
Bowling $19.8 $14.67
Haircut $18.95 $18.62
Beauty Salon $54.27 $39.05

Detailed Royal Oak Groceries Costs Vs. Michigan

Item Royal Oak Michigan
Ground Beef $4.55 $4.22
Fried Chicken $1.13 $1.39
Milk $1.44 $2.05
Potatoes $4.18 $3.29
Pizza $10.82 $10.62
Beer $8.42 $9.38
Toothpaste $2.43 $2.34

Detailed Royal Oak Health Costs Vs. Michigan

Item Royal Oak Michigan
Optometrist $81.52 $108.57
Doctor $104.59 $116.17
Dentist $99.57 $99.13

Detailed Royal Oak Transportation Costs Vs. Michigan

Item Royal Oak Michigan
Gasoline $2.25 $2.22
Tire Balancing $58.95 $50.07

Detailed Royal Oak Utilities Costs Vs. Michigan

Item Royal Oak Michigan
All Electricity $159.51 $167.67
Phone $178.81 $175.64

Royal Oak SnackAbility

10
/10
Overall SnackAbility
Jobs
8.5/10
Housing
8.5
Affordability
8
Diversity
7
Safety
8.5
Amenities
9.5
Education
9.5
Commute
7

Cost Of Living In Cities Around Royal Oak

The cost of living varies in the cities and towns around Royal Oak. 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 113, 1.1x Royal Oak.

  • Rochester Hills, MI has a cost of living index of 111, 1.1x Royal Oak.

  • Novi, MI has a cost of living index of 113, 1.1x Royal Oak.

City Population Cost Of Living Vs. Royal Oak
Troy, MI 86,912 113 1.1x
Rochester Hills, MI 75,990 111 1.1x
Novi, MI 65,369 113 1.1x
Oak Park, MI 29,677 93 0.9x
Madison Heights, MI 28,719 88 0.9x
Birmingham, MI 21,728 134 1.3x
Ferndale, MI 19,414 94 0.9x
Berkley, MI 15,234 102 1.0x
Hazel Park, MI 15,213 90 0.9x
Clawson, MI 11,482 99 1.0x

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