Farmington, MI vs Lathrup Village, MI

Farmington is moderately more affordable than Lathrup Village, with a 5.7% lower cost of living index. Farmington scores 96 compared to 102 for Lathrup Village, where the US average is 100. This difference means residents of Lathrup Village can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Farmington is $1,299/month compared to $1,497/month in Lathrup Village — a 13% difference. Interestingly, home values tell a different story: while Farmington has cheaper rent, Lathrup Village actually has lower median home values ($270,900 vs $273,000).

Median household income in Farmington is $94,115 compared to $99,286 in Lathrup Village (-5.2%). The higher salaries in Lathrup Village partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Farmington spend roughly 16.6% of their income on rent, less than the 18.1% in Lathrup Village.