A+
5%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
22%
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 Forest Park Ohio National
Cost of living9592100
Goods & Services102100100
Groceries102101100
Health care10398100
Housing7873100
Transportation102100100
Utilities10099100

An Overview of Cost of Living in Forest Park, OH

Knowing the cost of living in Forest Park allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Forest Park stands at 95, marking it 5% lower than the national average.

The cost of living in Forest Park aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Forest Park residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Forest Park Affordable?

Wondering if Forest Park is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Forest Park, for example, the median home price is 33.9% lower than what folks pay nationally, and monthly rent is 5.9% higher than the usual rates. Plus, income levels matter too, with Forest Park boasting a median household income of $57,394, which is 3.7% higher than the national average.

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

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Forest Park, the housing index comes in at 22% lower 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 Forest Park, healthcare costs are 2.7% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Forest Park, the groceries index is 2.4% higher than the national average.

Where is the Data From?

The Forest Park cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Forest Park is 3% higher than the Ohio average
  • The cost of living in Forest Park is 5% lower than the national average
  • Forest Park housing is 22% 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 Forest Park

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Compare Forest Park, OH Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$70,457$5,871$1,644$2,114
      Renters$39,149$3,262$913$1,175
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Forest Park, OH, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Forest Park homeowners, is $70,457. This would allow for a maximum of $1,644 per month to be spent on housing costs. For renters, the median monthly income is $39,149 which would result in a maximum of $913 to be spent on rental costs.

      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 Forest Park National avg. Difference
      Haircut $25.13$24.263.6%
      Beauty Salon $37.93$45.5616.7%
      Toothpaste $3.60$3.702.7%
      Shampoo $1.27$1.280.6%
      Movie $14.35$12.1318.3%
      Bowling $17.56$18.002.5%

      Groceries

      Item Forest Park National avg. Difference
      Ground Beef $5.91$5.841.2%
      Fried Chicken $1.72$1.579.1%
      Milk $4.80$4.672.7%
      Potatoes $5.05$4.932.3%
      Pizza $11.92$12.091.4%
      Beer $10.63$10.412.1%

      Health Care

      Item Forest Park National avg. Difference
      Optometrist $105.42$125.6816.1%
      Doctor $159.40$135.7817.4%
      Dentist $106.67$113.295.8%
      Ibuprofen $10.68$10.650.3%
      Lipitor $497.02$468.606.1%

      Housing

      Item Forest Park National avg. Difference
      Home Price $122,100.00$184,700.0033.9%
      Avg. Mortgage Payment $1,993.26$2,346.6915.1%
      Apartment Rent $1,005.00$949.005.9%

      Transportation

      Item Forest Park National avg. Difference
      Gasoline $3.27$3.465.6%
      Tire Balancing $73.09$59.9222.0%

      Utilities

      Item Forest Park National avg. Difference
      All Electricity $197.10$193.991.6%
      Phone $186.48$192.253.0%
      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.
      Plainville, OH1531021.7%
      Shawnee, OH1,0541021.7%
      Elizabethtown, OH2848020.4%
      Hooven, OH3268119.1%
      Shawnee village, OH5418317.2%
      Forest Park, OH18,632955.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Helena, AL18,6311032.9%
      Imperial, CA18,63111919.0%
      Cortland, NY18,633928.3%
      Culpeper, VA18,63311414.2%
      Creve Coeur, MO18,62712928.7%
      Forest Park, OH18,632955.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.