Cost of Living in Bingham Farms, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
290.5
100 = national avg
+190.5 vs national average
Living Wage (1 Adult)
$127,805
per year
Living Wage (Family of 4)
$302,084
per year
Cost Index by Category
Housing345.1
Food200.0
Transportation334.4
Healthcare193.8
Utilities200.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,122
per month
2 Bedroom
$1,411
per month
The overall cost of living index in Bingham Farms is 290.5, which is 190.5% above the national average. Housing costs are above the national average at an index of 345.1. A single adult needs to earn approximately $127,805 per year to cover basic expenses.