Forest Hills, MI

Very High · 138

Michigan · Population 28,494 · Updated March 2026

$1,950
Median Rent / Month
$156,618
Median Income
$474,800
Median Home Value
$1,692
Owner Costs / Month

Affordability

How far your income goes in Forest Hills

14.9%
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

$23,400
Annual Rent
$6,656
State Income Tax
$6,552
Property Tax (est.)

Cost of Living Overview

Forest Hills has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 138 (where 100 equals the national median), Forest Hills residents can expect to pay median rent of $1,950/month while earning a median household income of $156,618/year.

The median home value in Forest Hills, MI is $474,800, with typical monthly owner costs around $1,692 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.9% 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 Forest Hills.

Frequently Asked Questions

Common questions about living costs in Forest Hills

What is the cost of living in Forest Hills, MI?
The cost of living index in Forest Hills, MI is 138 (US average = 100). Median monthly rent is $1,950, median household income is $156,618/year, and the median home value is $474,800.
Is Forest Hills, MI affordable?
No, Forest Hills is more expensive than the national average with a cost index of 138. The rent-to-income ratio is 14.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Forest Hills, MI?
The median gross rent in Forest Hills, MI is $1,950 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,400.
What is the median household income in Forest Hills?
The median household income in Forest Hills, MI is $156,618 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%.