Cost of Living in Boyne City, MI

With a cost of living index of 79, Boyne City, MI is a very affordable place to live. Living here is 21% cheaper than the national average and in line with the Michigan state average. Boyne City is a small community of 3,829 residents.

Housing costs are the biggest factor in Boyne City's cost of living. The median monthly rent is $893 (32% below the US median of $1,319), and the median home value sits at $233,900 (23% below the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Boyne City is $68,087, which is 9% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.