Ferndale, MI vs Milford, MI

Ferndale, MI and Milford, MI have a very similar cost of living, with only a 4.3% difference in their overall index. Ferndale scores 91 while Milford scores 95 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Ferndale is $1,235/month compared to $1,058/month in Milford — a 17% difference. Interestingly, home values tell a different story: while Milford has cheaper rent, Ferndale actually has lower median home values ($233,600 vs $348,600).

Median household income in Ferndale is $91,732 compared to $102,521 in Milford (-10.5%). While Milford is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ferndale spend roughly 16.2% of their income on rent, more than the 12.4% in Milford.