Cost of Living in Mackinac Island, MI
Updated November 2026 · Mackinac County · population 561
Mackinac Island has fewer than 2,500 residents, so Census survey figures for it have wide margins of error. Figures marked “wide margin” are shown but not used for ratings or estimates.
Prices in Mackinac Island are 4.6% below the US average (local index 95.4; the BEA index for nonmetropolitan Michigan is 89.0), with local housing the biggest saving at 88.0; a single adult's modelled budget is about $2,614 a month and the median rent is $1,197.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Mackinac Island's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for nonmetropolitan Michigan, unchanged.
Mackinac Island price index by category, US average = 100: All items 95.4, Housing (rents) 88.0, Goods 93.7, Utilities 93.5, Other services 99.6
It is the 18th most expensive of the 25 Michigan cities in our data. Cheaper than 73% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 88.6 | 86.3 | 88.6 | 87.5 | 86.4 | 89.0 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Mackinac Island, MI
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $995 | $11,940 | 38% |
| Utilities | $240 | $2,880 | 9% |
| Food at home | $264 | $3,168 | 10% |
| Transportation | $605 | $7,260 | 23% |
| Health care | $350 | $4,200 | 13% |
| Clothing, personal care & supplies | $160 | $1,920 | 6% |
| Total | $2,614 | $31,368 | 100% |
2 adults · 2-bedroom · modelled estimate for Mackinac Island, MI
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,134 | $13,608 | 27% |
| Utilities | $382 | $4,584 | 9% |
| Food at home | $488 | $5,856 | 12% |
| Transportation | $1,197 | $14,364 | 29% |
| Health care | $649 | $7,788 | 16% |
| Clothing, personal care & supplies | $314 | $3,768 | 8% |
| Total | $4,164 | $49,968 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Mackinac Island, MI
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,277 | $15,324 | 25% |
| Utilities | $465 | $5,580 | 9% |
| Food at home | $696 | $8,352 | 14% |
| Transportation | $1,593 | $19,116 | 32% |
| Health care | $604 | $7,248 | 12% |
| Clothing, personal care & supplies | $404 | $4,848 | 8% |
| Total | $5,039 | $60,468 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Mackinac Island
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $1,057 modelled from city median rent |
| 1 bedroom | $1,046 modelled from city median rent |
| 2 bedrooms | $1,192 modelled from city median rent |
| 3 bedrooms | $1,342 modelled from city median rent |
| 4 bedrooms | $1,658 modelled from city median rent |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,197 |
| Median contract rent (excl. utilities) | $1,139 |
| Median home value | $733,300 |
| Owner costs with a mortgage | $4,000+/mo |
| Median household income | $95,000 |
| Rent as % of renter income Very affordable | 12.9% |
| Home value ÷ household income Very expensive | 7.7× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in Michigan
22.99¢ per kWh, August 2026
12-month change: +10.9% (from 20.73¢) · US 18.16¢
Average household uses 630 kWh a month in Michigan ≈ $134/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Midwest (PADD 2)
$4.10 per gallon, week of 2026-11-02
12-month change: +45.0% (from $2.83) · US $4.15
EIA weekly retail price survey; Michigan is covered by the Midwest (PADD 2) average.
Inflation in the Midwest
Consumer prices in the Midwest Census region rose +4.2% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Mackinac Island are 4.6% below the US average, $60,000 here has the buying power of about $62,900 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 95.4. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Odessa, TX | 95.4 | $2,523 | $1,315 |
| Albuquerque, NM | 95.4 | $2,385 | $1,145 |
| Kalispell, MT | 95.4 | $2,232 | $1,078 |
| Overland Park, KS | 95.4 | $2,731 | $1,515 |
| Rock Hill, SC | 95.4 | $2,724 | $1,341 |
| Smyrna, TN | 95.5 | $2,598 | $1,461 |
Compare Mackinac Island with another city
Frequently asked questions
Is Mackinac Island, MI an expensive place to live?
Mackinac Island has a local cost of living index of 95.4, which is 4.6% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for nonmetropolitan Michigan (89.0) and adjusts housing to Mackinac Island's own rents. It is 0.8 points below the Michigan average. It is the 18th most expensive of the 25 Michigan cities in our data. Cheaper than 73% of the cities we cover.
How much money do you need to live in Mackinac Island?
Our modelled estimate of basic monthly costs is $2,614 for a single adult, $4,164 for a couple and $5,039 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $57,200 in Mackinac Island.
What is the average rent in Mackinac Island?
The median gross rent (rent plus tenant-paid utilities) is $1,197 a month (Census ACS 2020-2024). By size: 1 bedroom $1,046, 2 bedrooms $1,192, 3 bedrooms $1,342. The typical renter spends 12.9% of household income on rent (very affordable).
How much does a house cost in Mackinac Island?
The median owner-estimated home value is $733,300, 7.7 times the median household income of $95,000 (very expensive). Owners with a mortgage pay a median $4,000+ a month in housing costs.
How much is electricity and gas in Mackinac Island?
Michigan residential electricity averaged 22.99¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.10 a gallon (Midwest (PADD 2) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for Michigan nonmetropolitan portion (BEA index 89.0) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 2650280 (Mackinac Island city).
- Electricity: EIA-861M, Michigan residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Midwest (PADD 2), week of 2026-11-02.
- Inflation: BLS CPI-U Midwest region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- BEA area index: state nonmetro figure (not in any metro or micropolitan area).
- Rents by bedrooms: modelled from city median rent (city bedroom medians: 1-3 bedroom estimate missing).
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources