Grosse Pointe Park, MI

Above Avg · 124

Michigan · Population 11,394 · Updated March 2026

$1,365
Median Rent / Month
$121,796
Median Income
$460,500
Median Home Value
$1,981
Owner Costs / Month

Affordability

How far your income goes in Grosse Pointe Park

13.4%
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

$16,380
Annual Rent
$5,176
State Income Tax
$6,355
Property Tax (est.)

Cost of Living Overview

Grosse Pointe Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 124 (where 100 equals the national median), Grosse Pointe Park residents can expect to pay median rent of $1,365/month while earning a median household income of $121,796/year.

The median home value in Grosse Pointe Park, MI is $460,500, with typical monthly owner costs around $1,981 including mortgage, insurance, and taxes. The median rent-to-income ratio of 13.4% 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 Grosse Pointe Park.

Frequently Asked Questions

Common questions about living costs in Grosse Pointe Park

What is the cost of living in Grosse Pointe Park, MI?
The cost of living index in Grosse Pointe Park, MI is 124 (US average = 100). Median monthly rent is $1,365, median household income is $121,796/year, and the median home value is $460,500.
Is Grosse Pointe Park, MI affordable?
No, Grosse Pointe Park is more expensive than the national average with a cost index of 124. The rent-to-income ratio is 13.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Grosse Pointe Park, MI?
The median gross rent in Grosse Pointe Park, MI is $1,365 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,380.
What is the median household income in Grosse Pointe Park?
The median household income in Grosse Pointe Park, MI is $121,796 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%.