Rochester, Michigan Cost of Living

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Services for Real Estate Pros with InboundREM

Cost of Living

Cost of living is the total budget that families and individuals would need in order to maintain a certain quality of living in a particular area. Families who plan to move into a new city will want to consider the costs of living in the community. The city of Rochester can be quite expensive with transportation and real estate expenses increasing the overall amount. Families who are looking to buy a home in the city will have to buy properties that are higher than the state and national average.

Infographic Showing the Cost of Living Index for Rochester, MI

Check out the original blog post at https://ethos-realestate.com/.

 

Rochester, Michigan Cost of Living Index

The Cost of Living Index provides a comparison between various factors affecting the cost of living in Rochester, Michigan and the country. The national average is scored at a hundred points which reflects the average cost in the nation. The table below details the difference between various expenses for families in the city.

Index Rochester Michigan Country
Grocery 90.7 95.4 100
Health 82.7 86.6 100
Housing 186.6 76 100
Utilities 99.4 100.1 100
Transportation 142.1 132.6 100
Miscellaneous 108.9 96.7 100
Total 133.8 96.7 100

Check out the original blog post at https://ethos-realestate.com/.

Real Estate

Real Estate has to be the most expensive factor affecting the cost of living in Rochester. The city has many expensive neighborhoods and residential developments. These include various luxury condominiums, gated communities, and more. The high costs of properties is an important consideration especially for larger families who need bigger homes when moving into an area.

A New Homeowner Opening the Door of Their Recently Purchased Home in Rochester, MI

Utility Bills

The typical utility bill for a one-bedroom apartment in Rochester is $173.53 which includes electricity, heating, cooling, water, and garbage. Prepaid mobile calls cost $0.10 per minute while the monthly internet service is $60.

Food and Groceries

Food and groceries are some of the relatively cheaper costs in the city of Rochester. The typical meal in a local restaurant is $13 which is $5 less than the national average. A fast food meal in the city costs $4.67 while a 3-course meal is about $40.

A Family Grocery Shopping

Transportation Expenses

Gas price in Rochester is about $0.68 per liter while a regular one-way transportation ticket in the city is $1.75, and cab rides start at $3, adding $1.21 for each additional kilometer.

A Man Pumping Gas to a Vehicle in a Gasoline Station

Michigan Tax

Notable taxes in Michigan includes a flat income tax system imposing a 4.25% tax on all individuals throughout various income brackets. Several cities in the state have different income tax computations but Rochester does not follow this trend. Sales tax in Michigan is 6% with many food items, prescription medication, and newspapers being exempt from the rule. Various utility bills in the state such as electricity, gas, and heating are taxed at a 4% rate.

Check out the original blog post at https://ethos-realestate.com/.

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Let Me Help You Find Your Rochester Hills Home!

If you are a buyer, it is important to have the assistance of a Buyer's Agent to represent you during the transaction. If you need additional assistance or would like to schedule a showing, contact our office at (248) 336-2086.

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POSTED BY
Brian Kirksey, Managing Director
Ethos Real Estate
113 E. University Drive Suite 2
Rochester, MI 48307
(248) 336-2086
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