Cost of Living in Shepherd, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
102.6
100 = national avg
+2.6 vs national average
Living Wage (1 Adult)
$45,127
per year
Living Wage (Family of 4)
$106,663
per year
Cost Index by Category
Housing86.4
Food108.5
Transportation117.1
Healthcare106.8
Utilities102.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$880
per month
2 Bedroom
$1,013
per month
The overall cost of living index in Shepherd is 102.6, which is 2.6% above the national average. Housing costs are below the national average at an index of 86.4. A single adult needs to earn approximately $45,127 per year to cover basic expenses.