Cost of Living in Ludington, MI

With a cost of living index of 74, Ludington, MI is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and 4% below the Michigan state average of 78. Ludington is a smaller community of 7,664 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Ludington's cost of living. The median monthly rent is $824 (38% below the US median of $1,319), and the median home value sits at $192,800 (37% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ludington is $44,471, which is 41% lower than the national median of $75,149. Residents spend roughly 22% 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.