Southfield, MI

Below Avg · 85

Michigan · Population 76,025 · Updated March 2026

$1,301
Median Rent / Month
$65,848
Median Income
$226,900
Median Home Value
$1,322
Owner Costs / Month

Affordability

How far your income goes in Southfield

23.7%
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

$15,612
Annual Rent
$2,799
State Income Tax
$3,131
Property Tax (est.)

Cost of Living Overview

Southfield offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 85 (where 100 equals the national median), Southfield residents can expect to pay median rent of $1,301/month while earning a median household income of $65,848/year.

The median home value in Southfield, MI is $226,900, with typical monthly owner costs around $1,322 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.7% 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 Southfield.

Frequently Asked Questions

Common questions about living costs in Southfield

What is the cost of living in Southfield, MI?
The cost of living index in Southfield, MI is 85 (US average = 100). Median monthly rent is $1,301, median household income is $65,848/year, and the median home value is $226,900.
Is Southfield, MI affordable?
Yes, Southfield is more affordable than the national average with a cost index of 85. The rent-to-income ratio is 23.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Southfield, MI?
The median gross rent in Southfield, MI is $1,301 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,612.
What is the median household income in Southfield?
The median household income in Southfield, MI is $65,848 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%.