States › Michigan › Coldwater

Is Coldwater, MI expensive to live in?

OKRent takes 28 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,29226% lower than U.S. average
💵 Families earn per year (2026)$54,767about $4,564/month · 37% lower than U.S. average
🔑 House price$137,50059% lower than U.S. average

Rent is lower than in 70% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 16.3 minutes.

How much money do I need?

To rent here comfortably, you should earn about $51,680 a year. That is $25 an hour at a full-time job.

Is rent cheaper than other Michigan cities?

Yes. Rent here is cheaper than in most of Michigan. It is number 85 of 179 cities from cheapest to most expensive.

Coldwater
$1,292
Sault Ste. Marie
$878
Rochester
$1,659
Fraser
$1,078
Owosso
$696
Ionia
$929
Woodhaven
$1,251

How much do households earn in Coldwater?

Under $25k
23.2%
$25k–50k
28.8%
$50k–100k
27.9%
$100k–150k
10.8%
$150k+
3.7%

Share of households by yearly income. 14.4% of households earn $100,000 or more.

Rent by apartment size in Coldwater

SizeColdwaterU.S. average
Studio$860$1,338
1 bedroom$913$1,324
2 bedrooms$1,053$1,509
3 bedrooms$1,213$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Coldwater overall?

Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).

Housing
82
Goods (food, clothes…)
96
Utilities
100
Other services
101
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Coldwater, so the Michigan figure is shown.

Taxes and bills in Coldwater

🏛️ Property tax$1,926a year · 1.40% of home value · U.S. $3,119
⚡ Electric bill$134a month (typical) · U.S. $156

Life in Coldwater

Commute to work16.3 minU.S.: 26.4 min
College degree13.9%U.S.: 35.7%
Own their home64.3%U.S.: 65.2%
Below poverty line21.3%U.S.: 12.5%
Unemployment8.3%U.S.: 5.2%

Is it cheaper to rent or buy in Coldwater?

Buying is cheaper month to month: about $338 a month less than renting.

Renting
$1,292
Owning
$954

Owning assumes a typical $137,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,750 for the down payment.

Frequently asked questions

What is the average rent in Coldwater, MI?

Renting in Coldwater costs a median of about $1,292 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Coldwater?

To keep rent under 30% of income, you need about $51,680 a year, or $25 an hour at a full-time job.

Is Coldwater cheap or expensive?

Coldwater is rated OK: rent takes 28.3% of the typical household income of $54,767. It ranks 85th cheapest of 179 Michigan cities we track.

How much are property taxes in Coldwater?

The median homeowner in Coldwater pays $1,926 a year in property taxes, about 1.40% of the median home value.

Is Coldwater more expensive than the national average?

Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Coldwater?

The median home value in Coldwater is $137,500, about 2.5 times the typical yearly household income.

13,671 people live in Coldwater. Numbers are typical (middle) values.