Holland, MI

Below Avg · 78

Michigan · Population 34,266 · Updated March 2026

$1,143
Median Rent / Month
$72,905
Median Income
$235,800
Median Home Value
$1,127
Owner Costs / Month

Affordability

How far your income goes in Holland

18.8%
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

$13,716
Annual Rent
$3,098
State Income Tax
$3,254
Property Tax (est.)

Cost of Living Overview

Holland is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 78 (where 100 equals the national median), Holland residents can expect to pay median rent of $1,143/month while earning a median household income of $72,905/year.

The median home value in Holland, MI is $235,800, with typical monthly owner costs around $1,127 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.8% 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 Holland.

Frequently Asked Questions

Common questions about living costs in Holland

What is the cost of living in Holland, MI?
The cost of living index in Holland, MI is 78 (US average = 100). Median monthly rent is $1,143, median household income is $72,905/year, and the median home value is $235,800.
Is Holland, MI affordable?
Yes, Holland is more affordable than the national average with a cost index of 78. The rent-to-income ratio is 18.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Holland, MI?
The median gross rent in Holland, MI is $1,143 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,716.
What is the median household income in Holland?
The median household income in Holland, MI is $72,905 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%.