Cost of Living in Pentwater, MI

With a cost of living index of 78, Pentwater, MI is a very affordable place to live. Living here is 22% cheaper than the national average and in line with the Michigan state average. Pentwater is a small community of 885 residents.

Housing costs are the biggest factor in Pentwater's cost of living. The median monthly rent is $540 (59% below the US median of $1,319), and the median home value sits at $347,200 (14% above the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Pentwater is $76,688, which is 2% higher than the national median of $75,149. Residents spend roughly 8% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.