Waverly, MI Cost Of Living
Cost Of Living In Waverly, MI Summary
Cost of living in Waverly 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 Waverly 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 Waverly is 94, with 100 being the average.
The cost of living index in Waverly is 0.9x lower than the national average.
Waverly ranks as the #117 cheapest in Michigan out of 175.
Waverly ranks as the #2,290 cheapest out of 6,412 in the US.
The median home value in Waverly is $178,600.
The median income in Waverly is $69,346.
Table Of Contents
Waverly's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Waverly, MI?
According to the most recent data on the cost of living, Waverly has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Michigan, Waverly has a cost of living index that's 1.0x higher than Michigan's index of 92.
The standard of living in Waverly ranks as #117 most affordable out of the 175 places we measured in Michigan. By definition, that implies Waverly ranks as the #58 most expensive place in the Wolverine State.
For more reading on life in Waverly, check out:
- Living In Waverly
- Search Homes For Sale In Waverly, MI
In Michigan
In America
Waverly Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Waverly. Here is how it fairs on each of the criteria:
The Services index in Waverly is 95.
The Groceries index in Waverly is 88.
The Health index in Waverly is 96.
The Housing index in Waverly is 80.
The Transportation index in Waverly is 108.
The Utilities index in Waverly is 100.
| Living Expense | Waverly | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 94 | 92 | 100 | |
| Services | 95 | 96 | 100 | |
| Groceries | 88 | 96 | 100 | |
| Health | 96 | 94 | 100 | |
| Housing | 80 | 80 | 100 | |
| Transportation | 108 | 97 | 100 | |
| Utilities | 100 | 100 | 100 | |
Waverly, 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 Waverly is $178,600.
The Median Rent in Waverly is $981.
The Median Income in Waverly is $69,346.
The Home Value To Income in Waverly is 2.6x.
The Rent To Monthly Income in Waverly is 0.17x.
| Statistic | Waverly | Michigan | United States |
|---|---|---|---|
| Median Home Value | $178,600 | $172,100 | $244,900 |
| Median Rent | $981 | $946 | $1,163 |
| Median Income | $69,346 | $63,202 | $69,021 |
| Home Value To Income | 2.6x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Waverly, MI Costs By Category
Detailed Waverly Services Costs Vs. Michigan
Detailed Waverly Groceries Costs Vs. Michigan
Detailed Waverly Health Costs Vs. Michigan
Detailed Waverly Transportation Costs Vs. Michigan
Detailed Waverly Utilities Costs Vs. Michigan
Waverly SnackAbility
/10
Cost Of Living In Cities Around Waverly
The cost of living varies in the cities and towns around Waverly. Here's a quick look at the cost of living in the most populous nearby places:
Lansing, MI has a cost of living index of 85, 0.9x Waverly.
East Lansing, MI has a cost of living index of 95, 1.0x Waverly.
Holt, MI has a cost of living index of 86, 0.9x Waverly.
| City | Population | Cost Of Living | Vs. Waverly |
|---|---|---|---|
| Lansing, MI | 113,592 | 85 | 0.9x |
| East Lansing, MI | 47,427 | 95 | 1.0x |
| Holt, MI | 25,755 | 86 | 0.9x |
| Okemos, MI | 25,179 | 101 | 1.1x |
| Haslett, MI | 19,333 | 93 | 1.0x |
| Charlotte, MI | 9,224 | 83 | 0.9x |
| Mason, MI | 8,307 | 85 | 0.9x |
| Grand Ledge, MI | 7,792 | 87 | 0.9x |
| St. Johns, MI | 7,700 | 90 | 1.0x |
| Eaton Rapids, MI | 5,211 | 78 | 0.8x |
