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This question is about Farmington Hills, MI.
What is a good salary in Farmington Hills, MI?
A good salary in Farmington Hills, MI is anything over $57,000. That's because the median income in Farmington Hills is $57,000, which means if you earn more than that you're earning more than 50% of the people living in Farmington Hills. The average salary in Farmington Hills is $66,234.
A good hourly wage in Farmington Hills is $27.4 per hour. That works out to a good weekly wage of $1,096 per week and a good monthly wage of $4,750 per month. However, using the median income is only one way to calculate a good salary in Farmington Hills.
Another way to calculate a good salary in Farmington Hills is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $257,300, a good salary in Farmington Hills would be $51,460.
Lastly, we can determine a good salary in Farmington Hills by looking at the cost of living and comparing it to the US average salary. The cost of living in Farmington Hills is 8% higher than than the national average. The national average salary is $56,310, so a good salary in Farmington Hills is anything over $60,814 by this measure.
Average Annual Salary in Farmington Hills, MI
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $29,000 | $2,416 | $557 | $13.94 |
| 25th | $40,000 | $3,333 | $769 | $19.23 |
| Median | $57,000 | $4,750 | $1,096 | $27.4 |
| 75th | $82,000 | $6,833 | $1,576 | $39.42 |
| 90th | $113,000 | $9,416 | $2,173 | $54.33 |
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