Elk Rapids, Michigan

Cost of living in Elk Rapids, Michigan

  • Cost of living compated to USAthe lowest
  • Cost of living compared to Michiganhigh
  • Median household incomemoderate

Is it expensive to live in Elk Rapids, Michigan? When calculating the cost of living in Elk Rapids, Michigan we factor in state income tax rates, average housing rental prices, average property values, cost of living index, and more.

The cost of living in Elk Rapids, Michigan is the lowestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Michigan, while median household income in Elk Rapids is $60,000 which is moderate Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Michigan.

Taxes in Elk Rapids, Michigan

The sales tax rate in Elk Rapids, Michigan is 6.0%. Last year, the average property taxes paid was 1.1% Elk Rapids, Michigan.

The state income tax in the state of Michigan is 4.25%.

Housing costs in Elk Rapids, Michigan

  • The average cost of a single-family home compated to USAthe highest
  • The average cost of a single-family home compated to Michiganthe highest

In Elk Rapids, Michigan, 77% of the population owns their homes, while approximately 23% rent. The average cost of a single-family home in Elk Rapids, Michigan in 2022 is $417,786 which is the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Michigan. The average one-bedroom apartment cost is approximately $[no data] per month.

Rental SizeMonthly CostCompared to Michigan
1 Bedroom$[no data][no data]Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest
2 Bedroom$[no data][no data]Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest
3 Bedroom$[no data][no data]Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest
4 Bedroom$[no data][no data]Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest