Cost Of Living in Parma, MI

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Parma	Michigan	National
Cost of living	84	89	100
Goods & Services	90	93	100
Groceries	95	99	100
Health care	94	93	100
Housing	63	74	100
Transportation	95	97	100
Utilities	102	101	100

New Real Estate Listings in Parma Area

For Sale For Rent

Search

Search Homes for Sale in Parma, MI

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Parma is 6% lower than the Michigan average
The cost of living in Parma is 16% lower than the national average
Parma housing is 37% lower than the national average
Michigan general sales tax is 18% higher than the national average
Michigan state income tax is 64% higher than the national average

Most Affordable Places to Live in and Around Parma

See all the best places to live around Parma

Compare Parma, MI Cost of Living

Write a review to give others more information about this area.

See all Parma poll results

The best places in Michigan

Here are the best places to live in Michigan

These are the 10 cheapest cities in Michigan

Most Dangerous Cities In The US

Check out the 10 most dangerous cities in Michigan

Salary Calculator

This is how much you would need to earn in

Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$73,542	$6,129	$1,716	$2,206
Renters	$60,852	$5,071	$1,420	$1,826

Michigan Sales Tax

State	General Sales Tax	With Max Surtax
Michigan	6%	6%

Michigan Income Tax

State	Income Tax (Low)	Income Tax (High)
Michigan	4.25%	4.25%

Goods & Services

Item	Parma	National avg.	Difference
Haircut	$24.53	$24.26	1.1%
Beauty Salon	$56.27	$45.56	23.5%
Toothpaste	$3.64	$3.70	1.8%
Shampoo	$1.40	$1.28	9.1%
Movie	$11.22	$12.13	7.5%
Bowling	$22.17	$18.00	23.1%

Groceries

Item	Parma	National avg.	Difference
Ground Beef	$5.51	$5.84	5.7%
Fried Chicken	$1.69	$1.57	7.7%
Milk	$4.84	$4.67	3.6%
Potatoes	$4.77	$4.93	3.3%
Pizza	$10.99	$12.09	9.1%
Beer	$9.38	$10.41	9.9%

Health Care

Item	Parma	National avg.	Difference
Optometrist	$91.40	$125.68	27.3%
Doctor	$139.14	$135.78	2.5%
Dentist	$120.35	$113.29	6.2%
Ibuprofen	$10.88	$10.65	2.1%
Lipitor	$504.80	$468.60	7.7%

Housing

Item	Parma	National avg.	Difference
Home Price	$88,200.00	$184,700.00	52.2%
Avg. Mortgage Payment	$2,520.64	$2,346.69	7.4%
Apartment Rent	$923.00	$949.00	2.7%

Transportation

Item	Parma	National avg.	Difference
Gasoline	$3.42	$3.46	1.2%
Tire Balancing	$60.57	$59.92	1.1%

Utilities

Item	Parma	National avg.	Difference
All Electricity	$180.47	$193.99	7.0%
Phone	$184.98	$192.25	3.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Albion, MI	8,380	79	21.4%
Jackson, MI	32,251	81	19.5%
Cement City, MI	520	82	17.8%
Homer, MI	1,550	82	17.7%
Springport, MI	848	83	16.8%
Parma, MI	538	84	15.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Eva, AL	538	89	11.5%
Fountain Lake, AR	538	90	10.3%
Cowden, IL	538	72	28.3%
Beverly Hills, MO	538	81	19.4%
Fillmore, NY	538	84	16.2%
Parma, MI	538	84	15.7%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Parma, MI