Farmington Hills, MI

Average · 105

Michigan · Population 83,316 · Updated March 2026

$1,475
Median Rent / Month
$101,863
Median Income
$333,200
Median Home Value
$1,522
Owner Costs / Month

Affordability

How far your income goes in Farmington Hills

17.4%
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

$17,700
Annual Rent
$4,329
State Income Tax
$4,598
Property Tax (est.)

Cost of Living Overview

Farmington Hills is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 105 (where 100 equals the national median), Farmington Hills residents can expect to pay median rent of $1,475/month while earning a median household income of $101,863/year.

The median home value in Farmington Hills, MI is $333,200, with typical monthly owner costs around $1,522 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.4% 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 Farmington Hills.

Frequently Asked Questions

Common questions about living costs in Farmington Hills

What is the cost of living in Farmington Hills, MI?
The cost of living index in Farmington Hills, MI is 105 (US average = 100). Median monthly rent is $1,475, median household income is $101,863/year, and the median home value is $333,200.
Is Farmington Hills, MI affordable?
No, Farmington Hills is more expensive than the national average with a cost index of 105. The rent-to-income ratio is 17.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Farmington Hills, MI?
The median gross rent in Farmington Hills, MI is $1,475 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,700.
What is the median household income in Farmington Hills?
The median household income in Farmington Hills, MI is $101,863 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%.