Cost of Living in Rapid River, MI
Population: 230 | Michigan
Rapid River is 18% less expensive than the national average.
Cost of Living in Rapid River, MI: What You Need to Know
With a cost of living index of 82, Rapid River, MI is a very affordable place to live. Living here is 18% cheaper than the national average and 3% above the Michigan state average of 78. Rapid River is a small community of 230 residents.
The median household income in Rapid River is $39,375, which is 48% lower than the national median of $75,149. 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.
Income
- Median Household Income
- $39,375
- vs US Median ($75,149)
- -48%
Housing
- Median Home Value
- $105,600
- Median Monthly Housing Cost
- $513/mo