South Lyon, MI Cost Of Living
Cost Of Living In South Lyon, MI Summary
Cost of living in South Lyon 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 South Lyon 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 South Lyon is 106, with 100 being the average.
The cost of living index in South Lyon is 1.1x higher than the national average.
South Lyon ranks as the #152 cheapest in Michigan out of 180.
South Lyon ranks as the #3,278 cheapest out of 6,489 in the US.
The median home value in South Lyon is $463,380.
The median income in South Lyon is $83,822.
Table Of Contents
South Lyon's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in South Lyon, MI?
According to the most recent data on the cost of living, South Lyon has an overall cost of living index of 106, which is 1.1x higher than the national index of 100.
Compared to Michigan, South Lyon has a cost of living index that's 1.2x higher than Michigan's index of 90.
The standard of living in South Lyon ranks as #152 most affordable out of the 180 places we measured in Michigan. By definition, that implies South Lyon ranks as the #28 most expensive place in the Wolverine State.
For more reading on life in South Lyon, check out:
In Michigan
In America
South Lyon Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in South Lyon. Here is how it fairs on each of the criteria:
The Services index in South Lyon is 102.
The Groceries index in South Lyon is 104.
The Health index in South Lyon is 103.
The Housing index in South Lyon is 110.
The Transportation index in South Lyon is 102.
The Utilities index in South Lyon is 96.
| Living Expense | South Lyon | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 106 | 90 | 100 | |
| Services | 102 | 93 | 100 | |
| Groceries | 104 | 97 | 100 | |
| Health | 103 | 91 | 100 | |
| Housing | 110 | 72 | 100 | |
| Transportation | 102 | 96 | 100 | |
| Utilities | 96 | 99 | 100 | |
South Lyon, 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 South Lyon is $463,380.
The Median Rent in South Lyon is $1,208.
The Median Income in South Lyon is $83,822.
The Home Value To Income in South Lyon is 5.5x.
The Rent To Monthly Income in South Lyon is 0.17x.
| Statistic | South Lyon | Michigan | United States |
|---|---|---|---|
| Median Home Value | $463,380 | $258,642 | $303,400 |
| Median Rent | $1,208 | $1,084 | $1,348 |
| Median Income | $83,822 | $71,149 | $78,538 |
| Home Value To Income | 5.5x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
South Lyon, MI Costs By Category
Detailed South Lyon Services Costs Vs. Michigan
| Item | South Lyon | 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 South Lyon Groceries Costs Vs. Michigan
| Item | South Lyon | 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 South Lyon Health Costs Vs. Michigan
| Item | South Lyon | Michigan |
|---|---|---|
| Optometrist | $85.0 | $125.68 |
| Doctor | $103.33 | $135.78 |
| Dentist | $91.0 | $113.29 |
Detailed South Lyon Transportation Costs Vs. Michigan
| Item | South Lyon | Michigan |
|---|---|---|
| Gasoline | $3.35 | $3.46 |
| Tire Balancing | $56.0 | $59.92 |
Detailed South Lyon Utilities Costs Vs. Michigan
| Item | South Lyon | Michigan |
|---|---|---|
| All Electricity | $219.2 | $193.99 |
| Phone | $184.44 | $192.25 |
South Lyon SnackAbility
/10
Cost Of Living In Cities Around South Lyon
The cost of living varies in the cities and towns around South Lyon. Here's a quick look at the cost of living in the most populous nearby places:
Ann Arbor, MI has a cost of living index of 124, 1.2x South Lyon.
Livonia, MI has a cost of living index of 104, 1.0x South Lyon.
Farmington Hills, MI has a cost of living index of 114, 1.1x South Lyon.
| City | Population | Cost Of Living | Vs. South Lyon |
|---|---|---|---|
| Ann Arbor, MI | 121,179 | 124 | 1.2x |
| Livonia, MI | 94,058 | 104 | 1.0x |
| Farmington Hills, MI | 83,316 | 114 | 1.1x |
| Novi, MI | 66,224 | 118 | 1.1x |
| Wixom, MI | 17,126 | 109 | 1.0x |
| Farmington, MI | 11,472 | 108 | 1.0x |
| Plymouth, MI | 9,234 | 119 | 1.1x |
| Whitmore Lake, MI | 8,083 | 102 | 1.0x |
| Brighton, MI | 7,576 | 106 | 1.0x |
| Walled Lake, MI | 7,275 | 99 | 0.9x |
