Spencer, MI Cost of Living


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How much do I need to live in Spencer, Michigan?
$3,840 / month
for a family, 28.9% less expensive than the national average A total of $46,080 for the year for a family.
$2,767 / month
for a single person, 42.0% less expensive than the national average A total of $33,200 for the year for a single person.

Spencer cost of living score
94.5
Less expensive
5.5% lower
than the US average
3.3% higher
than the Michigan average
Spencer, Michigan gets a BestPlaces Cost of Living score of 94.5, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 5.5% lower than the U.S. average and 3.3% lower than the average for Michigan.

Spencer, MI

Housing costs in Spencer?
A typical home costs $239,700, which is 29.1% less expensive than the national average of $338,100 and 9.6% more expensive than the average Michigan home, at $218,700. Renting a two-bedroom unit in Spencer costs $990 per month, which is 30.8% more than the national average of $1,430 and 11.1% more than the state average of $1,100.

Can I afford Spencer?
To live comfortably in Spencer, Michigan, a minimum annual income of $46,080 for a family, and $33,200 for a single person is recommended.

What does A.I. say about Spencer?
The cost of living in Spencer, MI is relatively low compared to other areas in the United States. The median home price is around $100,000, with a median household income of approximately $50,000. Additionally, the cost of groceries and other essentials are much lower than other states. Transportation costs are also affordable for both car owners and public transportation users alike. Overall, Spencer is an ideal place for those looking for a low cost of living without sacrificing quality of life.
   Cost of living score
       Higher than 100 is more expensive than the national average.
       Lower than 100 is less expensive.
     CategoriesSpencerMichiganUnited States
    Unlock91.5100.0
  94.3  Unlock100.0
    Unlock84.8100.0
  64.1  Unlock100.0
    Unlock$218,700$338,100
  100.1  Unlock100.0
    Unlock115.1100.0
  100.8  Unlock100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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