Riverview, MI

Very Low · 72

Michigan · Population 12,269 · Updated March 2026

$1,050
Median Rent / Month
$71,783
Median Income
$200,500
Median Home Value
$1,112
Owner Costs / Month

Affordability

How far your income goes in Riverview

17.6%
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

$12,600
Annual Rent
$3,051
State Income Tax
$2,767
Property Tax (est.)

Cost of Living Overview

Riverview is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 72 (where 100 equals the national median), Riverview residents can expect to pay median rent of $1,050/month while earning a median household income of $71,783/year.

The median home value in Riverview, MI is $200,500, with typical monthly owner costs around $1,112 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.6% 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 Riverview.

Frequently Asked Questions

Common questions about living costs in Riverview

What is the cost of living in Riverview, MI?
The cost of living index in Riverview, MI is 72 (US average = 100). Median monthly rent is $1,050, median household income is $71,783/year, and the median home value is $200,500.
Is Riverview, MI affordable?
Yes, Riverview is more affordable than the national average with a cost index of 72. The rent-to-income ratio is 17.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Riverview, MI?
The median gross rent in Riverview, MI is $1,050 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,600.
What is the median household income in Riverview?
The median household income in Riverview, MI is $71,783 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%.