A+
5%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
9%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Fairview Park Ohio National
Cost of living9592100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing9173100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Fairview Park, OH

Getting a feel for the cost of living in Fairview Park is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Fairview Park is 95, which is 5% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Fairview Park are priced in a manner consistent with other areas. This means that residents of Fairview Park can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Fairview Park Affordable?

Is Fairview Park 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 Fairview Park, the median home price is 7.9% lower than the national average and monthly rent prices are 12.8% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Fairview Park boasting a median household income of $63,744, 15.2% higher than the national average.

What Factors can Influence the Cost of Living in Fairview Park?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Fairview Park, the utilities index registers at 2.8% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Fairview Park, healthcare costs are 4.8% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Fairview Park, the standard sales tax rate starts at 5.75%, and the income tax rates commence at 0%.

Where is the Data From?

The cost of living data in Fairview Park displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Fairview Park is 3% higher than the Ohio average
  • The cost of living in Fairview Park is 5% lower than the national average
  • Fairview Park housing is 9% lower than the national average
  • Ohio general sales tax is 13% higher than the national average
  • Ohio state income tax is 6% higher than the national average

Most Affordable Places to Live in and Around Fairview Park

See all the best places to live around Fairview Park

Compare Fairview Park, OH Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$82,664$6,889$1,929$2,480
      Renters$42,169$3,514$984$1,265
      A good way to judge both the affordability of the housing and the cost of living in Fairview Park is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Fairview Park has a median income of about $82,664 for people who own homes. Based on that number, a maximum of $1,929 should be spent on expenses related to housing. Renters have a slightly different median income, which is $42,169. Based on this average, renters should spend no more than $984 on all rental costs if they want to maintain a non-impoverished standard of living.

      Ohio Sales Tax

      State General Sales Tax With Max Surtax
      Ohio 5.75% 8%

      Ohio Income Tax

      State Income Tax (Low) Income Tax (High)
      Ohio 2.76% 3.99%

      Goods & Services

      Item Fairview Park National avg. Difference
      Haircut $23.67$24.262.5%
      Beauty Salon $35.31$45.5622.5%
      Toothpaste $3.68$3.700.5%
      Shampoo $1.45$1.2813.0%
      Movie $11.60$12.134.4%
      Bowling $18.27$18.001.5%

      Groceries

      Item Fairview Park National avg. Difference
      Ground Beef $5.46$5.846.5%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.57$4.672.3%
      Potatoes $5.38$4.939.1%
      Pizza $9.98$12.0917.4%
      Beer $10.51$10.411.0%

      Health Care

      Item Fairview Park National avg. Difference
      Optometrist $103.58$125.6817.6%
      Doctor $119.67$135.7811.9%
      Dentist $109.73$113.293.1%
      Ibuprofen $10.73$10.650.7%
      Lipitor $503.65$468.607.5%

      Housing

      Item Fairview Park National avg. Difference
      Home Price $170,100.00$184,700.007.9%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $828.00$949.0012.8%

      Transportation

      Item Fairview Park National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $57.76$59.923.6%

      Utilities

      Item Fairview Park National avg. Difference
      All Electricity $205.88$193.996.1%
      Phone $186.78$192.252.8%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      East Cleveland, OH17,0478020.0%
      Linndale, OH3348217.9%
      Kinsman Center, OH6608217.9%
      Cleveland, OH383,3318317.4%
      Eaton Estates, OH1,2098317.0%
      Fairview Park, OH16,219955.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mount Clemens, MI16,212918.9%
      Auburndale, FL16,230982.2%
      Brunswick, GA16,2318515.1%
      Hernando, MS16,2061000.1%
      Port Washington, NY16,23219392.5%
      Fairview Park, OH16,219955.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.