Cost of Living in Parma, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
102.3
100 = national avg
+2.3 vs national average
Living Wage (1 Adult)
$45,023
per year
Living Wage (Family of 4)
$106,418
per year
Cost Index by Category
Housing95.3
Food104.6
Transportation109.2
Healthcare103.7
Utilities101.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$946
per month
2 Bedroom
$1,165
per month
The overall cost of living index in Parma is 102.3, which is 2.3% above the national average. Housing costs are below the national average at an index of 95.3. A single adult needs to earn approximately $45,023 per year to cover basic expenses.