Fenton, MI

Below Avg · 84

Michigan · Population 11,950 · Updated March 2026

$1,323
Median Rent / Month
$83,077
Median Income
$211,700
Median Home Value
$1,300
Owner Costs / Month

Affordability

How far your income goes in Fenton

19.1%
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

$15,876
Annual Rent
$3,531
State Income Tax
$2,921
Property Tax (est.)

Cost of Living Overview

Fenton is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 84 (where 100 equals the national median), Fenton residents can expect to pay median rent of $1,323/month while earning a median household income of $83,077/year.

The median home value in Fenton, MI is $211,700, with typical monthly owner costs around $1,300 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.1% 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 Fenton.

Frequently Asked Questions

Common questions about living costs in Fenton

What is the cost of living in Fenton, MI?
The cost of living index in Fenton, MI is 84 (US average = 100). Median monthly rent is $1,323, median household income is $83,077/year, and the median home value is $211,700.
Is Fenton, MI affordable?
Yes, Fenton is more affordable than the national average with a cost index of 84. The rent-to-income ratio is 19.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fenton, MI?
The median gross rent in Fenton, MI is $1,323 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,876.
What is the median household income in Fenton?
The median household income in Fenton, MI is $83,077 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%.