Cost of Living in Highland Park, MI
Cost of Living in Highland Park, MI has an overall index of 64, 36% below the U.S. baseline of 100. The typical home value is $75,800; typical monthly rent is $691; and median household income is $27,582.
Cost index: committed city housing/rent inputs and BEA 2024 state nonmetro price parities. Home value: Census ACS 2023 fallback place estimate. Rent: Census ACS 2023 fallback place estimate. A place-level signal, not a personal affordability decision or financial recommendation.
Rent and home prices are comparatively balanced with local income. This describes the local market, not your household.
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Frequently asked questions about Highland Park
Living in Highland Park
Is Highland Park, MI an affordable place to live?+
Yes — everyday expenses in Highland Park run about 36% below the US average (Cost Index: 64). Housing is especially affordable: the median home is valued around $75,800, compared to the $303,400 national median. Monthly rent is $691, versus $1,348 nationally.
How does Highland Park fit a household housing budget?+
Start with housing. Typical monthly rent is $691, while local median household income is $27,582. That implies a rent-burden proxy of about 30% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Highland Park, MI?+
Michigan uses a flat model; 4.25% is top marginal-rate context. Applying the 1.38% state-level effective owner-occupied proxy to a home worth $75,800 gives a planning estimate near $1,046 per year; it is not a city, county, parcel, or individual tax bill. State plus average local sales-tax context is around 6%.
How much does it cost to rent in Highland Park, MI?+
The typical monthly rent in Highland Park is around $691. That's roughly 49% lower than the $1,348 national median. For comparison, the median home value here is $75,800, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Highland Park, MI?+
The typical home value in Highland Park is $75,800. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $368/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 45% of residents here own their homes.
Are groceries and utilities expensive in Highland Park?+
Grocery prices in Highland Park are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 88). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Highland Park, MI like to live in?+
Highland Park is a small town with a population of about 8,798. The median age of residents is 45.1, skewing somewhat older — common in established suburban communities. The local poverty rate is 41.16%, above the national average of 12.4%.