Cost of Living in Richland, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
125.8
100 = national avg
+25.8 vs national average
Living Wage (1 Adult)
$55,358
per year
Living Wage (Family of 4)
$130,847
per year
Cost Index by Category
Housing142.2
Food114.5
Transportation111.0
Healthcare111.6
Utilities117.1
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 Richland is 125.8, which is 25.8% above the national average. Housing costs are above the national average at an index of 142.2. A single adult needs to earn approximately $55,358 per year to cover basic expenses.