The cost of residing in Michigan is lower than that of the average US state. Food, health and miscellaneous costs are pretty cheap, but the cost of utilities such as gas, electricity and telephone is quite expensive. The biggest saving is in the housing sector which is cheaper in Michigan. At the high end, the average listing price is $214,000, whereas at the low end it is $92,000. The median home price is between $137,000 and $168,000.