Housing costs in Laurium?
A typical home costs
$91,700, which is 72.9% less expensive than the national average of
$338,100 and 58.1% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Laurium costs
$850 per month, which is 40.6% cheaper than the national average of
$1,430 and 29.4% cheaper than the state average of
$1,100.
Can I afford Laurium?
To live comfortably in Laurium, Michigan, a minimum annual income of
$17,640 for a family, and
$28,000 for a single person is recommended.
What does A.I. say about Laurium?
The cost of living in Laurium, MI is quite reasonable compared to other parts of Michigan and the United States. The overall cost of living index in the city is 88.7, which is 12.3% lower than the U.S. average. Housing prices are particularly low, with the median home value being $51,800 – significantly cheaper than many other places in Michigan and around the country. Groceries are also very affordable, as is transportation with a variety of affordable public transport options available in the city. In addition, taxes are quite low with no state income tax and only 6% sales tax on purchases. All of these factors combine to make Laurium a great place to live for those looking for an affordable lifestyle in a safe and welcoming community.