Cost of living in Troy
Troy, located in Michigan, is a vibrant city known for its thriving business environment and quality of life. Understanding the cost of living in Troy is crucial for anyone considering moving to or residing in the area.
This guide provides a detailed breakdown of the expenses you can expect, from dining and groceries to housing and transportation, helping you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $15 on average, with a range between $10 and $40.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $70, with prices ranging from $40 to $100.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.5, with a range between $10 and $13.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $4 to $8, imported beer $5.5 to $10, cappuccino $2 to $7, and Coke/Pepsi $1.75 to $3.
Grocery Prices
- Milk - Milk is priced between $0.66 and $0.79 per liter, averaging $0.73.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.87 and $5.06, with an average price of $2.95.
- Eggs (Dozen) - A dozen eggs range from $2.09 to $3, averaging $2.67.
- Fruits (e.g., Apples, Oranges) - Apples cost $4.19 to $6.61 per kg, while oranges range from $3.31 to $6.61 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $2.2 and $2.93 per kg, and lettuce costs $2 to $2.79 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs around $3.
- Fuel (Gasoline) - Gasoline is priced between $0.77 and $0.99 per liter.
- Taxi Fares - Taxi fares are not specified, but owning a car like a Volkswagen Golf or Toyota Corolla can cost between $22,750 and $36,250.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1100 to $1500, averaging $1325.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $950 to $1251, averaging $1133.67.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $2100 to $2500, averaging $2266.67.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1950 to $3000, averaging $2416.67.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $119 and $255, averaging $157.57.
- Internet - Internet services range from $40 to $60, with an average cost of $52.5.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Troy offers a moderate cost of living with reasonable housing and utility costs compared to other major cities.
Dining out can vary significantly in price, offering options for both budget-conscious and upscale dining experiences.
Transportation costs are manageable, especially for those who own a vehicle, given the relatively low fuel prices.
Conclusion
In conclusion, Troy, MI, presents a balanced cost of living with affordable housing options and moderate expenses in dining and transportation.
Potential residents can enjoy a comfortable lifestyle with a variety of amenities and services available at competitive prices.