Grosse Pointe Woods, MI

Above Avg · 115

Michigan · Population 16,177 · Updated March 2026

$1,755
Median Rent / Month
$129,442
Median Income
$322,500
Median Home Value
$1,668
Owner Costs / Month

Affordability

How far your income goes in Grosse Pointe Woods

16.3%
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

$21,060
Annual Rent
$5,501
State Income Tax
$4,450
Property Tax (est.)

Cost of Living Overview

Grosse Pointe Woods is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 115 (where 100 equals the national median), Grosse Pointe Woods residents can expect to pay median rent of $1,755/month while earning a median household income of $129,442/year.

The median home value in Grosse Pointe Woods, MI is $322,500, with typical monthly owner costs around $1,668 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.3% 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 Woods.

Frequently Asked Questions

Common questions about living costs in Grosse Pointe Woods

What is the cost of living in Grosse Pointe Woods, MI?
The cost of living index in Grosse Pointe Woods, MI is 115 (US average = 100). Median monthly rent is $1,755, median household income is $129,442/year, and the median home value is $322,500.
Is Grosse Pointe Woods, MI affordable?
No, Grosse Pointe Woods is more expensive than the national average with a cost index of 115. The rent-to-income ratio is 16.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Grosse Pointe Woods, MI?
The median gross rent in Grosse Pointe Woods, MI is $1,755 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,060.
What is the median household income in Grosse Pointe Woods?
The median household income in Grosse Pointe Woods, MI is $129,442 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%.