Attention Michigan Shoppers: Costco Membership Prices Going Up

Well, it seems Costco is joining the trend of raising prices in this country, much like other major retail chains have done recently. However, with Costco, they'll be raising their membership fees again.

It's not something they do often, but it definitely happens. The last time Costco raised its membership fees was back in 2017.

People are paying more than ever before and are becoming accustomed to prices going up. I think we see it most with streaming services; it seems like we're always getting notices stating that our subscription costs are going up. It's crazy to think that many of us are now paying $22.99 a month for Netflix.

How Much Will Costo's Membership Fee Go Up?

While the increase may seem small, it contributes to the rising costs Americans face today.

According to CNBC, Costco will raise its membership fee by $5 in the U.S. and Canada, increasing the annual cost from $60 to $65. The higher-tier "Executive Membership" plan will see a rise from $120 to $130 per year.

When compared to its competitor, Sam's Club, Costco's membership fees are significantly higher. It's $50 for club members and $110 for members of its higher-tier level, 'Plus,' on an annual basis.

When Will Costco Raise Membership Fees?

Costco will raise its membership fees starting on September, 1st.

Costco is planning to build a new location in Mundy Township. They recently posted a sign where the future store will be, on Hill Road at US 23. It's not listed on the company's website of new stores opening this year, so I would expect the new store to open sometime next year.