The cost of living in Michigan is on the rise, with one study estimating the cost to live comfortably at more than $87,000 for a single adult.
The figure comes from the personal finance website SmartAsset, which leveraged the Massachusetts Institute of Technology’s Living Wage Calculator and applied the 50/30/20 budgeting rule.
“This rule suggests allocating 50% of your income to necessities, 30% to discretionary spending, and 20% to long-term goals like retirement savings or paying off debt,” the site explains.
The study ranked Michigan the 36th most expensive at $87,235 needed to live comfortably as a single adult, or $207,584 for a four-person family in 2025.
In neighboring Wisconsin it’s $87,194 for a single adult, while it’s $86,570 in Indiana, $84,781 in Ohio, and $98,010 in Illinois
Read the Full Article at The Midwesterner.
