Cost of Living in Palo, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
72.5
100 = national avg
-27.5 vs national average
Living Wage (1 Adult)
$31,884
per year
Living Wage (Family of 4)
$75,362
per year
Cost Index by Category
Housing47.8
Food76.3
Transportation138.3
Healthcare81.0
Utilities75.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$921
per month
2 Bedroom
$1,209
per month
The overall cost of living index in Palo is 72.5, which is 27.5% below the national average. Housing costs are below the national average at an index of 47.8. A single adult needs to earn approximately $31,884 per year to cover basic expenses.