Cost of Living in Parchment, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
96.1
100 = national avg
-3.9 vs national average
Living Wage (1 Adult)
$42,302
per year
Living Wage (Family of 4)
$99,986
per year
Cost Index by Category
Housing109.5
Food91.7
Transportation83.4
Healthcare93.4
Utilities96.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$998
per month
2 Bedroom
$1,162
per month
The overall cost of living index in Parchment is 96.1, which is 3.9% below the national average. Housing costs are above the national average at an index of 109.5. A single adult needs to earn approximately $42,302 per year to cover basic expenses.