Key Economic Benchmarks
Median Household Income
$52,732$4,394 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Gogebic County, MI
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Gogebic County, MI
Official FY2026 HUD Fair Market Rents for Gogebic County, MI. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $689 | $8,268 | $27,560 | 15.7% |
| 1-Bedroom Apartment | $761 | $9,132 | $30,440 | 17.3% |
| 2-Bedroom ApartmentBenchmark | $973 | $11,676 | $38,920 | 22.1% |
| 3-Bedroom Home | $1,353 | $16,236 | $54,120 | 30.8% |
| 4-Bedroom Home | $1,411 | $16,932 | $56,440 | 32.1% |
50/30/20 Living Budget in Gogebic County, MI
Based on the local median household income of $52,732/year ($4,394/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Michigan
Explore net income after federal income tax, FICA, and Michigan state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Michigan with official federal datasets:
Frequently Asked Questions About Living in Gogebic County, MI
What is the median household income in Gogebic County, MI?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Gogebic County, MI is $52,732 per year (approximately $4,394 per month).
What is the average rent in Gogebic County, MI?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Gogebic County, MI are $689 for a studio, $761 for 1 bedroom, $973 for 2 bedrooms, $1,353 for 3 bedrooms, and $1,411 for 4 bedrooms.
How does the cost of living in Gogebic County, MI compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Gogebic County, MI is 96.2 (3.8% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Gogebic County, MI?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($973/month) in Gogebic County, MI requires a minimum gross household income of $38,920 per year ($3,243 per month).
What is a balanced 50/30/20 monthly budget in Gogebic County, MI?
For a typical household earning the median income of $52,732/year ($4,394/month) in Gogebic County, MI, a balanced 50/30/20 budget allocates $2,197/month to essential needs (rent, utilities, groceries), $1,318/month to discretionary spending, and $879/month to savings and debt repayment.
What are typical electricity and utility costs in Gogebic County, MI?
Residential electricity rates in Michigan average 23¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $207 per month.