Cost of Living in Waverly, MI
Population 23,301 · Michigan · Data vintage 2023
(100 = US avg)
Buyers in Waverly can reasonably expect a home to cost less than three years of household income — $222,000 against $75,868 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country.
Waverly is part of the immediate Lansing metro area — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 86% higher than Lansing's $119,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Waverly
The median home value in Waverly is $222,300 — 27% below the national median of $305,000. Median rent runs $1,125/month, 14% lower than the national median of $1,314/month. The median household income of $75,868/year is 2% higher than the US median of $74,580. The local unemployment rate is 5.3%, above the national average of 4.8%. Michigan's top state income tax rate is 4.3% and the combined sales tax is 6.0%. The climate averages highs of 57.9°F and lows of 39.2°F, with about 50.2" of annual snowfall. Overall, Waverly has a cost of living index of 78 versus the US average of 100, meaning it is 22% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 31 | 34 | 44 | 58 | 69 | 79 | 83 | 81 | 74 | 61 | 47 | 36 |
| Low °F | 17 | 18 | 26 | 36 | 48 | 57 | 61 | 60 | 52 | 41 | 32 | 23 |
| Precip" | 2.06 | 1.71 | 2.13 | 3.26 | 3.66 | 3.76 | 2.94 | 3.48 | 2.81 | 3.16 | 2.46 | 1.90 |
| Snow" | 14.3 | 12.9 | 5.9 | 1.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 3.9 | 11.3 |
Frequently Asked Questions
What is the cost of living in Waverly, MI?
Waverly has a cost index of 78 (100 = national average). It is 22% below the national average.
What is average rent in Waverly, MI?
The median gross rent in Waverly is $1,125 per month based on 2023 Census data.
What is the average home price in Waverly?
The median home value in Waverly is $222,300 according to 2023 Census ACS data.
What is the median income in Waverly?
The median household income in Waverly is $75,868 per year (2023 ACS 5-year estimates).
What is the sales tax in Waverly, MI?
The combined state and local sales tax rate in Waverly is 6.0%. The Michigan state income tax top rate is 4.3%.
Is Waverly, MI affordable?
Yes, Waverly is generally considered affordable, with a cost of living index of 78 — about 22% below the US national average of 100.
What is the weather like in Waverly?
Waverly has average high temperatures of 57.9°F and average lows of 39.2°F. Annual precipitation is 33.3". Average annual snowfall is 50.2". Data from NOAA 1991–2020 Climate Normals.
Waverly at a Glance
- Population
- 23,301
- Median Income
- $75,868
- Home Value
- $222,300
- Median Rent
- $1,125/mo
- Unemployment
- 5.3%
- Avg High Temp
- 57.9°F
- Sales Tax
- 6.0%
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