Coldwater, MI

Very Low · 54

Michigan · Population 13,847 · Updated March 2026

$912
Median Rent / Month
$50,084
Median Income
$120,900
Median Home Value
$833
Owner Costs / Month

Affordability

How far your income goes in Coldwater

21.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Michigan

State-level tax rates that affect your costs

4.25%
Income Tax (Top Rate)
6.0%
Sales Tax
1.38%
Property Tax Rate

Estimated Annual Costs

$10,944
Annual Rent
$2,129
State Income Tax
$1,668
Property Tax (est.)

Cost of Living Overview

Coldwater is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 54 (where 100 equals the national median), Coldwater residents can expect to pay median rent of $912/month while earning a median household income of $50,084/year.

The median home value in Coldwater, MI is $120,900, with typical monthly owner costs around $833 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Michigan has a moderate income tax rate of 4.25%. Combined with a 6.0% sales tax rate and 1.38% effective property tax rate, the overall tax environment is a factor in the total cost of living in Coldwater.

Frequently Asked Questions

Common questions about living costs in Coldwater

What is the cost of living in Coldwater, MI?
The cost of living index in Coldwater, MI is 54 (US average = 100). Median monthly rent is $912, median household income is $50,084/year, and the median home value is $120,900.
Is Coldwater, MI affordable?
Yes, Coldwater is more affordable than the national average with a cost index of 54. The rent-to-income ratio is 21.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Coldwater, MI?
The median gross rent in Coldwater, MI is $912 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,944.
What is the median household income in Coldwater?
The median household income in Coldwater, MI is $50,084 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Michigan?
Michigan has a top income tax rate of 4.25%, a sales tax of 6.0%, and an effective property tax rate of 1.38%.