Cost of Living Warren, MI

Is Warren an expensive place to live? Let's look a little deeper into the costs of living in Warren, the average household income, and typical expenses.

Ranked as #11 in Best Places to Live, Warren is a great place to live, while it ranks high in other factors and diversity. Known for its manufacturing industry, sturdy job market, and low cost of living, Warren is one of the best places to live in Michigan. This city is home to several beautiful and livable neighborhoods while also home to about 138,130 residents. Warren is an inner-ring suburb of Detroit and is roughly 13 miles North of downtown Detriot.

This city has something for everyone, which is one reason why the people who live here love it! This city is home to many attractions like the Detriot Zoo and Red Oaks Waterpark. If you are looking for beautiful homes for sale where it's quiet but also located near the heart of it all, then this city is for you. 

So, if you are interested in moving to Warren, you are in the perfect place. Moving somewhere new comes with many things to consider, which can be a lot at once. Since moving is stressful, our team has created a moving guide that includes some of the top things you need to know about life in Warren, Michigan. 

Keep reading to learn about the cost of living in Warren, MI.

Cost of Living Warren

According to Payscale, the cost of living in Warren is about 10 percent lower than the national average. Breaking this number down, housing expenses are 46 percent lower than the national average, utility prices are 6 percent lower, transportation expenses like bus fares and gas prices are about the same, food and grocery are 1 percent higher, and healthcare is about 13 percent higher than the national average. 

The total cost of housing, food, childcare, transportation, health care, taxes, and other necessities for a single adult living here is $32,282 a year, which is about the same as Michigan's cost of living but lower than the national average. Keep in mind that these numbers are just averages, and the cost of living will vary depending on your lifestyle. Check out some aspects of the cost of living broken down below. 

Sourced from Payscale. 

Keep in mind, though, that the cost of living is lower than the national average, so if you are looking for a place to live where you can live comfortably and also be located near many bigger cities, then this place is perfect for you. No matter if you are looking for a place for jobs, schools, or location, you will be able to find it here. 

Real Estate Costs

Housing expenses in Warren, MI, are 46 percent lower than the national average. The median home price for homes in Warren is about $245,670, while the median rent price is $746.96 a month. The Warren housing market is considered to be very competitive, and as of June 2023, home prices were up about 7 percent compared to last year. On average, homes will be on the market for about 50 days and usually receive a couple of offers per house. 

Overall, the housing market has been stable and offers many affordable housing options in many different areas. People are attracted to this area due to the low housing costs and the location. 

However, you should remember that housing costs do vary depending on the location, size, and type of house. Housing costs are more affordable here compared to other locations in Michigan and throughout the country. If you are interested in moving to Warren, you should check out single-family homes, townhomes, luxury homes and condos for sale in Warren. Keep up to date with the real estate trends to ensure you get the best options out there. Check out the best places to live in Warren for help. 

Income

The average household income in Warren is $63,481, with a poverty rate of about 5.2 percent. This city has seen the job market increase by 0.2 percent over the last year and is predicted to be 35 percent in the next 10 years. Since this area is located near the metropolitan area of Detroit, you are offered many various job opportunities, but since it is a highly populated area, it may tend to be harder to find a job.

Being a suburb of Detroit, Warren's job market is relatively close to it and offers various opportunities as well as challenges, but it has evolved over the years. Every city faces its challenges, and there will always be economic shifts in society, so keep an eye out on the economy and keep your options open when looking for a job opening. 

Make sure you keep a lookout for job opportunities if you are interested in moving to Warren since this is such a booming area.

Utilities

On average, a resident in Warren will spend about $190 per month on electricity. Overall, you will spend annually $2,280. The energy costs are about 7 percent lower than the national average. You have to keep in mind that utility costs may fluctuate depending on weather conditions. Since Warren is in Michigan and they tend to have cold temperatures and winter storms, that means that your costs will be higher compared to other states. Be prepared for higher bills during the cold winter months.  

Food and Grocery

Warren has grocery prices that are about 1 percent higher than the national average. On average, in the state of Michigan, you will spend roughly $285.25 per month, which adds up to $3,423 roughly for the year. Eating in this city is considered to be more expensive than in other cities, but that all does depend on your lifestyle, diet, and the size of the family you are feeding. There are many grocery store options in the area to choose from, while also there are affordable restaurants to visit.

Healthcare

Healthcare costs in Warren are 13 percent higher than the national average. However, the state of Michigan overall does have the lowest healthcare costs in the country and has a median premium of $347 a month, which is lower than the national average. Some employers can get ensured, and if they fail to provide affordable coverage, The Department of Insurance and Finacial Services says they may be subject to a tax penalty. Always try to find the best insurance companies because healthcare costs can be one of the biggest factors in the cost of living. Below are a few categories broken down. 

Taxes

The minimum combined 2023 sales ax ate in Warren is about 6 percent. That is the total state, county, and city sales tax taxes combined. If you break that down, the Michigan sales tax rate is 6 percent, the county tax rate is 0 percent, and the city tax rate is 0 percent. On the other hand, the average property taxes are about 1.8 percent, and the state income tax for the state of Michigan is about 4.25 percent. 

Transportation

Warren's transportation costs, like bus fares and gas prices, are about in line with the national average. On average, a gallon of gas in this city is about $3.40, but keep in mind that the prices fluctuate depending on many things. Counting for the cost of gas, public transit, and car maintenance, the EPI estimates that a single person that lives in Warren will spend about $9,236 a year on transportation which is less than the national average. 

About 94 percent of the residents here commute to work, which is more than the national average. Due to the location of the city, a lot of residents commute to bigger cities outside for jobs like Detroit. On average, the commute time in Warren is about 25 minutes, but remember that this number varies depending on location and time of day. Keep in mind that transportation costs do add to the overall cost of living, and depending on what you use for your transit, you will have different monthly costs. 

FAQ

What does Michigan rank in cost of living?

According to the 2023 First Quarter Cost of Living chart, the state of Michigan ranks number 15 with a cost of living index of 92.7. 

What are the good areas of Warren, MI?

Some of the best neighborhoods in and around Warren are located more on the city's west side. Every area, though, seems to be the same since it is a smaller city. 

Is Warren a good place to live in Michigan?

Warren is one of the best places to live in Michigan. The sturdy job market and low cost of living are the main reasons why people love to live here. If you are looking for beautiful and liveable neighborhoods with their charm, you should consider moving to this city. 

Is Warren, MI, a safe place to live?

The chance of becoming a victim of either violent or property crime in this city is 1 in 48. Based on the FBI crime data, Warren is not one of the safest communities when relating it to the country, while Warren's crime rates are 84 percent higher than the state of Michigan's rates. 

Finding the perfect place to live - Warren, MI

Being a suburb of Detroit, the residents here are also able to enjoy the things that the metropolitan area offers but still live in a quieter environment. This area offers strong growth and is only on the up now, so if you are looking for an area to settle down and enjoy all the opportunities that it offers, you should definitely take a look at moving to Warren.

Ranked as #11 in Best Places to Live, Warren is a great place to live, while it ranks high in other factors and diversity. This city has something for everyone, and that is one of the reasons why the people who live here love it! Whether you are looking for a low cost of living, affordable housing, or great education, this place is perfect for you. Every city has its downfalls, and sadly Warren's is the crime rate. 

Overall, Warren is a city of natural beauty, and if you are interested in moving to Michigan, then you should check out this city. Everyone searches for different things when moving somewhere new, so you never know if Warren is your next home. If you are interested in the area, you should check out our other local area guide for moving to Detroit and moving to Grand Rapids.

If you or anyone you know is interested in searching for homes for sale in Warren, please get in touch with us here so we can connect you with one of our Realty Specialists to help make this transition for you go smoothly. No matter the location, price, or preferences, we are here to help you through every step of the home-buying process to ensure that we find you the perfect home that meets all of your needs.

Please feel free to contact us here today for any questions or help.