Lathrup Village, MI vs South Lyon, MI

South Lyon is moderately more affordable than Lathrup Village, with a 8.5% lower cost of living index. Lathrup Village scores 102 compared to 94 for South Lyon, 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 Lathrup Village is $1,497/month compared to $1,208/month in South Lyon — a 24% difference. Interestingly, home values tell a different story: while South Lyon has cheaper rent, Lathrup Village actually has lower median home values ($270,900 vs $280,900).

Median household income in Lathrup Village is $99,286 compared to $83,822 in South Lyon (+18.4%). While Lathrup Village is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lathrup Village spend roughly 18.1% of their income on rent, more than the 17.3% in South Lyon.