Cost of Living in Bellefontaine, OH

An Overview of Cost of Living in Bellefontaine, OH

The cost of living in Bellefontaine affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Bellefontaine is 94, which is 6% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

In Bellefontaine, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Bellefontaine will resemble that of an average city, contributing to a manageable cost of living.

Is Bellefontaine Affordable?

Is Bellefontaine affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Bellefontaine, the median home price is 38.8% lower than the national average and monthly rent prices are 27.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Bellefontaine boasting a median household income of $51,307, 7.3% lower than the national average.

What Factors can Influence the Cost of Living in Bellefontaine?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Bellefontaine, healthcare costs are 11.8% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Bellefontaine, the housing index is 35.5% lower than the national average.

Where is the Data From?

The cost of living in Bellefontaine, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.