Flat Rock, MI

Very Low · 71

Michigan · Population 10,418 · Updated March 2026

$1,006
Median Rent / Month
$73,288
Median Income
$201,400
Median Home Value
$1,178
Owner Costs / Month

Affordability

How far your income goes in Flat Rock

16.5%
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

$12,072
Annual Rent
$3,115
State Income Tax
$2,779
Property Tax (est.)

Cost of Living Overview

Flat Rock is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 71 (where 100 equals the national median), Flat Rock residents can expect to pay median rent of $1,006/month while earning a median household income of $73,288/year.

The median home value in Flat Rock, MI is $201,400, with typical monthly owner costs around $1,178 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.5% 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 Flat Rock.

Frequently Asked Questions

Common questions about living costs in Flat Rock

What is the cost of living in Flat Rock, MI?
The cost of living index in Flat Rock, MI is 71 (US average = 100). Median monthly rent is $1,006, median household income is $73,288/year, and the median home value is $201,400.
Is Flat Rock, MI affordable?
Yes, Flat Rock is more affordable than the national average with a cost index of 71. The rent-to-income ratio is 16.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Flat Rock, MI?
The median gross rent in Flat Rock, MI is $1,006 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,072.
What is the median household income in Flat Rock?
The median household income in Flat Rock, MI is $73,288 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%.