Cost of Living in Ferndale, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
126.4
100 = national avg
+26.4 vs national average
Living Wage (1 Adult)
$55,612
per year
Living Wage (Family of 4)
$131,447
per year
Cost Index by Category
Housing136.5
Food120.1
Transportation106.9
Healthcare116.1
Utilities119.4
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 Ferndale is 126.4, which is 26.4% above the national average. Housing costs are above the national average at an index of 136.5. A single adult needs to earn approximately $55,612 per year to cover basic expenses.