Cost of Living in Bingham Farms, MI

With a cost of living index of 121, Bingham Farms, MI is a notably expensive place to live. Living here is 21% more expensive than the national average and 43% above the Michigan state average of 78. Bingham Farms is a small community of 1,652 residents.

The median household income in Bingham Farms is $218,750, which is 191% higher than the national median of $75,149. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Detroit-Warren-Dearborn, MI (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.