Housing costs in New Lothrop?
A typical home costs
$197,900, which is 41.5% less expensive than the national average of
$338,100 and 9.5% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in New Lothrop costs
$810 per month, which is 43.4% cheaper than the national average of
$1,430 and 35.8% cheaper than the state average of
$1,100.
Can I afford New Lothrop?
To live comfortably in New Lothrop, Michigan, a minimum annual income of
$37,800 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about New Lothrop?
The cost of living in New Lothrop, MI is quite affordable. The median home cost in the city is $113,400, which is much lower than the median home cost for Michigan as a whole. Additionally, the average rent for a one bedroom apartment in New Lothrop is only around $680 per month. Other expenses are also relatively low; the average price for a gallon of gas hovers around $2.25 and groceries are generally inexpensive here as well. Overall, living in New Lothrop can be done on a budget without sacrificing quality of life or amenities.