What is the median income for University of Michigan students?

There's no hard data on what percentage of students are supporting themselves through college, but given the Ann Arbor campus has a median family income of $154,000 (over twice the median family income in Michigan) and a pervasive wealth culture, you have to imagine these students are few and far between.

What is the average income of University of Michigan students?

The median family income of a student from the University is $154,000, and 66% of students come from the top 20% of income. The average income of U-M students is in the 80th percentile, with only 3.6% of kids coming from the lowest 20% of family incomes.

Are Umich students wealthy?

Umich has #1 wealthiest student body in public universities.

What is Michigan's median household income?

The following data are the most current income statistics for Michigan from the US Census Bureau, are in 2022 inflation adjusted dollars and are from the American Community Survey 2022 5-year estimates. Median Household Income: $68,505. Average Household Income: $92,835.

Is 95k a good salary in Michigan?

A survey from Purdue University and GoBankingRates.com found that you need a minimum annual salary of $95,865 to be happy in Michigan, but that comes with a caveat of a higher than average unemployment rate.

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What is considered a good salary in Michigan?

As of Feb 22, 2024, the average hourly pay for a Hourly in Michigan is $21.68 an hour. While ZipRecruiter is seeing salaries as high as $36.88 and as low as $14.88, the majority of Hourly salaries currently range between $21.78 (25th percentile) to $24.33 (75th percentile) in Michigan.

Why is University of Michigan so expensive?

The key reason for increasing tuition is inflation and the long-term decline in state funding. Since 2001, U-M has become increasingly reliant on tuition to offset a declining share of revenue from the state appropriation, which is lower today than a decade ago.

Is the University of Michigan expensive?

University of Michigan--Ann Arbor's tuition is $17,786 for in-state and $57,273 for out-of-state students. Compared with the national average cost of in-state tuition of $11,560, University of Michigan--Ann Arbor is more expensive.

How much do you need to live comfortably in Michigan?

Michiganders would need a minimum income of $50,049 to live comfortably. That income will be harder to stretch if you live in downtown Detroit, where Apartments.com says the average rent is $1,047 a month.

Do rich kids go to umich?

It found that a quarter of its Forbes 400 members attended 11 schools, and University of Michigan is in a three-way-tie for seventh place on the list. “The lone public school in the top 10, the University of Michigan's alumni include the sixth richest American, Google cofounder Larry Page,” writes Forbes.

Is University of Michigan an elite university?

It's one of the top universities in the world and top tier in the US. It is one of the more prominent members (along with University of California schools, The Ohio State, and UW-Madison) of the “Public Ivies”.

Is umich as good as an ivy?

Michigan is a very good university, but it is not as prestigious as the Ivy League. Will you get as good or better education at Michigan as you would get at Ivy League universities? For many majors, yes. For many majors you will get just as good an education at Michigan.

Who is the highest paid person at University of Michigan?

Despite Ono and Harbaugh's national prominence, Michigan Medicine CEO Dr. Marschall Runge is actually the university's highest-paid employee for 2023 at $1.64 million.

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What is University of Michigan known for?

The University of Michigan is known for its excellence in academics, research, and athletics. It is one of the top public universities in the United States and has consistently ranked among the best universities in the world.

How do people afford University of Michigan?

U-M is the only public university in Michigan that covers 100% of demonstrated financial need of eligible Michigan residents. Approximately 70% of all in-state U-M undergraduate students receive some form of financial aid. Below are examples of typical tuition support offered to Michigan families who apply for aid.

Is it hard to get into University of Michigan?

The University of Michigan acceptance rate is approximately 20%, making it a very competitive school. For context, acceptance rate is generally an indication of how competitive a school is, but it is also an indication of how popular a school is.

Is University of Michigan a beautiful campus?

The University of Michigan is beautiful during the snowy days of winter and the humid days of late summer and every season in between. As my final days as an undergraduate student approach, I find myself longing to memorialize the areas around campus that have been meaningful to me during my time here.

How respected is the University of Michigan?

U-M was ranked the No. 3 public university, the same position it had last year, and placed 25th overall among both public and private institutions on the 2022-23 Best Colleges list. The university was ranked No. 23 overall last year.

Is the University of Michigan a fun school?

Among the many allures of the University of Michigan—Ann Arbor is that the school offers “a great environment both academically and socially.” One student explains, “It has the social, fun atmosphere of any Big Ten university, but most people are still incredibly focused on their studies.

How much does it cost to go to University of Michigan for 1 years?

In-state tuition at University of Michigan for undergraduate students residing in Michigan is $16,404. Room and board charges total $13,171 per year. Students will also need to budget for books and supplies, which typically amount to $1,092 annually. Other administrative or academic fees are $332 for the year.

Is 120 000 a good salary in Michigan?

A couple or small family could live reasonably well on about $80,000 total, assuming they were okay with a smaller, modest home. At $130,000, they would be making significantly more money than others in the area. The cost of living in Michigan and especially outside the Greater Detroit area is pretty low.

Is 80k a good salary in Michigan?

Originally Answered: Is 80k a year good salary in Ann arbor? That would be pretty good. You won't feel like the richest person in town, but you'll be able to afford anything you want and save plenty.

Is $150,000 salary good?

Earning $150,000 puts you well above the average salary in the U.S — over double the median income, in fact, according to Census data. With this salary, you can likely afford a bigger home than most, and likely in a more desirable location.