Cost of Living in Prescott, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
85.1
100 = national avg
-14.9 vs national average
Living Wage (1 Adult)
$37,457
per year
Living Wage (Family of 4)
$88,534
per year
Cost Index by Category
Housing77.7
Food92.6
Transportation85.1
Healthcare94.0
Utilities91.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$843
per month
2 Bedroom
$989
per month
The overall cost of living index in Prescott is 85.1, which is 14.9% below the national average. Housing costs are below the national average at an index of 77.7. A single adult needs to earn approximately $37,457 per year to cover basic expenses.