Cost of Living in Sheridan, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
87.1
100 = national avg
-12.9 vs national average
Living Wage (1 Adult)
$38,325
per year
Living Wage (Family of 4)
$90,587
per year
Cost Index by Category
Housing81.0
Food93.4
Transportation86.8
Healthcare94.7
Utilities92.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,016
per month
2 Bedroom
$1,203
per month
The overall cost of living index in Sheridan is 87.1, which is 12.9% below the national average. Housing costs are below the national average at an index of 81.0. A single adult needs to earn approximately $38,325 per year to cover basic expenses.