Housing costs in Lowell?
A typical home costs
$313,300, which is 7.3% less expensive than the national average of
$338,100 and 43.3% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Lowell costs
$1,200 per month, which is 16.1% cheaper than the national average of
$1,430 and 8.3% more than the state average of
$1,100.
Can I afford Lowell?
To live comfortably in Lowell, Michigan, a minimum annual income of
$60,120 for a family, and
$39,600 for a single person is recommended.
What does A.I. say about Lowell?
The cost of living in Lowell, MI is quite reasonable compared to other cities in Michigan. According to BestPlaces, the cost of living index for Lowell is 86.7, which is 14.3 percent lower than the U.S average. Housing costs are the biggest contributor to this low cost of living with an index of 79, 15.9 percent lower than the U.S average. Those looking to open a business will also find that Lowell provides a favorable environment with an overall index rating of 95, 4.5 percent higher than the U.S average and a sales tax rate much lower than other Michigan cities at 6%.