July 5, 2021 at 12:45 pm · Justin Becker · Comments Off on Cheaper Cities Cost of Living: Oakland County, MI
Cheaper Cities Cost of Living: Oakland County, MI
Comprising 62 cities, townships, and villages, Oakland County is regarded as one of the richest counties in the U.S. It is also part of the Detroit-Warren-Dearborn, MI Metropolitan Statistical Area.
Without a doubt, many people rank Oakland County as one of the best places to live, if not the best in the United States.
According to the Detroit Free Press, their ranking puts Oakland’s current affluence and its “prospects for future prosperity” at 19th overall among the nation’s 109 largest counties, ideally, those with 600,000 or more residents.
Oakland County boasts many places to live that have strong crime and safety grades. Looking for a new place for you and your family to move calls for adequate research about crime levels around the neighborhood.
Cheaper Cities Cost of Living: Oakland County MI
Compared to the rest of the country, Oakland County’s cost of living is 7.2% higher than the U.S. average. When it comes to unemployment, the rate stands at 3.5 percent, compared to the national average of 6.0 percent. Also, recent job growth in Oakland County has been positive, with a 0.3 percent increase over the past year.
If you are looking to move to Oakland County, you are likely to find better schools, both public and private, for your kids. Oakland County public schools spend $12,819 per student, while the average school expenditure in the U.S. is $12,383.
Oakland County offers a plethora of options when it comes to the best places to live. You’ll find cities with a cost of living that falls within your household income range.
Let’s get a breakdown of the cost of living in some of the cheaper cities in Oakland County.
● Southfield Cost of Living in Oakland County
● Keego Harbor Cost of Living in Oakland County
● Oak Park Cost of Living in Oakland County
● Auburn Hills Cost of Living in Oakland County
Southfield Cost of Living in Oakland County
The housing cost of living in Oakland County is a little higher than that of the national average. With an index of 110, the median home cost in Oakland County is $254,300, with home appreciation in the last 10 years standing at 6.9%.
If you are looking to rent a studio apartment in Oakland County, expect to spend an average of $621 per month. For a one bedroom, you’ll spend about $753 on average every month. For a two bedroom and three bedroom, you’ll spend about $967 and $1261 on average per month, respectively.
In contrast, the city of Southfield tends to be cheaper in housing. With an overall cost of living index at 99.9, Southfield’s housing cost of living index stands at 76.5, meaning you are likely to spend 23.5 percent less on housing here.
What’s the cost of living as far utilities are concerned? Well, it’s slightly above the U.S. average, but by only 0.2 percent.
When it comes to the health cost of living in Southfield, Oakland County, you are likely to spend 18.6 percent less, compared to the national average.
On groceries, the cost of living is 4.4 percent less compared to the national average.
The downside of living in Southfield is when it comes to transportation cost of living. Expect to spend 37.2 percent more, compared to the national average cost of living.
Keego Harbor Cost of Living in Oakland County
Keego Harbor is one of those cities people love to visit. In 2018, Keego Harbor, MI had a population of 3.2k people, with a median age of 37.2.
Although the cost of living index in the city of Keego Harbor is 100.2, which is higher than the national average, you are likely to spend a lot less on housing, health, utilities, and groceries.
As much as health costs have been on the rise nationally, the health cost of living is almost 20 percent less in Keego Harbor compared to the U.S. average.
Looking for an apartment in Keego Harbor seems to be cheaper compared to the national average, as you’ll spend almost 15 percent less. The median home cost in Keego Harbor is $194,800, while that of Michigan and the national average stands at $151,400 and $231,200, respectively.
While in Keego Harbor, expect to spend more on transportation. The transportation cost of living in Keego Harbor is 27.8 percent over the U.S. average.
When it comes to utilities, the cost of living is 0.4 percent cheaper compared to the national average cost of living. While searching apartments in Keego Harbor, check out what’s included in the rent, because not all property managers provide all utilities that you need. For example, you may need to find an external service provider for the internet and phone connection.
Keego Harbor has an average household income of $61,320, while the median household income stands at $47,301.
When it comes to commuting, most people in Keego Harbor, MI drive alone to work, as the average commute time is approximately 28.2 minutes.
Oak Park Cost of Living in Oakland County
Oak Park is one of those beautiful cities that anyone will fall in love with at the first sight. Oak Park is rich in history, boasting several landmarks and historical buildings.
Per the 2010 census, the population of Oak Park was 29,319. With an overall cost of living index of 97.2, you are likely to spend slightly less here when compared to the U.S. average.
If you are looking to find your next home in Oak Park, expect to spend almost 35 percent less compared to the national average. The median home cost in Oak Park is $150,400, while that of Michigan stands at $151,400.
Grocery shopping is inevitable, but you should not be worried about the grocery cost of living in Oak Park. You’ll spend close to seven percent less on groceries compared to the U.S. average.
On the other hand, transportation cost of living is on the high, being about 43.4 percent more. Most people living here drive to work, with the average commute time in Oak Park being approximately 22.5 minutes.
Auburn Hills Cost of Living in Oakland County
Found in southeast Michigan, Auburn Hills is home to more than 26,000 residents, while also serving as Michigan’s global business address, with 40 international corporations, from 32 countries including many worlds and North American headquarters.
Auburn Hills is known not only for its 22 high-technology parks, but also for having world-renowned retail, entertainment, and manufacturing.
Most of the residents here have an average commute time of 21.4 minutes. On the other hand, the transportation cost of living in Auburn Hills is 12.1 percent higher compared to the U.S. average cost of living.
The cost of living index in Auburn Hills is 93.6, meaning it is a little cheaper when compared to the national average. If you are looking to settle with your family in Auburn Hills, your housing cost of living will be close to 30 percent less when compared to the U.S. average.
The median household income of an Auburn Hills resident is $52,949 a year, while that of the U.S. average is $53,482 a year.
Renting a studio apartment in Auburn Hills will cost you an average of $721 per month, while a one-bedroom unit will cost you $860 on average, per month.
When it comes to utilities, the cost of living isn’t much different from the U.S. average, as Auburn Hills is 0.4 percent cheaper.
Buying groceries won’t be that costly in Auburn Hills, having a cost of living index of 95.1, compared to the national average cost of living.
Summary
Even though the overall cost of living in Oakland County is 7.2 percent higher than the national average, you still have a plethora of cheaper cities you can settle in with your family. As you can see, you will find cities with a cost of living index that is almost 30 percent less when compared to the national average cost of living.
