Housing costs in Farmington Hills?
A typical home costs
$354,700, which is 4.9% more expensive than the national average of
$338,100 and 62.2% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Farmington Hills costs
$1,650 per month, which is 50.0% more than the national average of
$1,100 and 26.1% more than the state average of
$1,220.
Can I afford Farmington Hills?
To live comfortably in Farmington Hills (zip 48335), Michigan, a minimum annual income of
$68,040 for a family, and
$51,600 for a single person is recommended.
What does A.I. say about Farmington Hills?
The cost of living in 48335 Farmington Hills, MI is relatively high compared to the rest of the country. The overall cost of living index is 123.3, which is significantly higher than the US average of 100. Housing costs are particularly high with an index value of 159.6, nearly 60 points higher than the national average. Groceries and utilities also come with a high price tag, 44.5 and 106.1 respectively. Transportation costs are slightly lower with an index value of 90, reflecting national averages. Overall, living in 48335 Farmington Hills requires a larger budget in order to cover basic necessities.