If you are considering moving to Canton, Michigan then you are likely doing a little research on the area. You may be looking for things to do or restaurants in the area, but one of the more practical issues to research is the cost of living in Canton, Michigan.
Canton, Michigan is a small, yet fast growing township in Michigan. Finding exact on cost of living is hard to come by, but hopefully this guide paints of picture of the overall economic health of the area.
Average Income
Depending on what report you read, the average income in Canton may vary. According to one 2014 report, the average household income is $89,157 and the median household income is $80,358. In another report, Canton has almost a 50% higher median household income than the Michigan average.
While the reports often show different data, a common trend for the Canton area is that household income is generally higher than the rest of the state.
Cost of Living Compared to National Averages
According to BestPlaces.net, the overall cost of living in Canton is slightly (approximately 2%) above the United States average overall. This is primarily due to costs in utilities and transportation which are slightly above the national average.
However, when looking at individual categories, you will find that Canton is affordable for most day to day consumer items. For example, the average grocery cost in Canton is approximately 5% lower than the national average. Healthcare also comes in approximately 2% lower.
In short, it is safe to say that the cost of living in Canton, Michigan is on par with the rest of the nation. Couple this with the higher average income and you can see why Canton is one of the fastest growing townships in Michigan.
Cost of Living Compared to Detroit, Michigan
According to SalaryExpert.com, an engineer making $60,000 in Detroit will only have to make $56,712 in Canton, Michigan. In other words, finding a home in Canton is generally more affordable than living in the City. Specifically, the cost of food and housing in Canton is lower than in Detroit.
Given the close proximity to Detroit, it is no wonder why so many people will often work in Detroit but then make Canton, MI the place they call home.
