Cost of Living in Tower, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
81.6
100 = national avg
-18.4 vs national average
Living Wage (1 Adult)
$35,911
per year
Living Wage (Family of 4)
$84,881
per year
Cost Index by Category
Housing80.8
Food82.2
Transportation94.7
Healthcare85.8
Utilities85.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$803
per month
2 Bedroom
$1,054
per month
The overall cost of living index in Tower is 81.6, which is 18.4% below the national average. Housing costs are below the national average at an index of 80.8. A single adult needs to earn approximately $35,911 per year to cover basic expenses.