A+
9%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
19%
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 London Ohio National
Cost of living9192100
Goods & Services94100100
Groceries104101100
Health care8598100
Housing8173100
Transportation90100100
Utilities9599100

An Overview of Cost of Living in London, OH

Are you thinking about relocating, but curious about the potential cost of living in London? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in London stands at 91, making it 9% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in London is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Is London Affordable?

Is London an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in London is 19.2% lower than the national average, while the average monthly rent prices are 17.8% lower than average. The affordability of any location can also be influenced by median income levels. London has a median household income of $56,401, which is 2% higher than the national average.

What Factors can Influence the Cost of Living in London?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In London, the groceries index is 3.5% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In London, the utilities index is 4.7% lower 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.

Where is the Data From?

The London cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 London is 1% lower than the Ohio average
  • The cost of living in London is 9% lower than the national average
  • London housing is 19% 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 London

See all the best places to live around London

Compare London, OH Cost of Living

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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$73,229$6,102$1,709$2,197
      Renters$40,625$3,385$948$1,219
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in London, OH, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In London, homeowners have a median income of $73,229. Using that number, a maximum of $1,709 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $40,625, which means there is a maximum of $948 to be spent on the costs of renting a home or apartment.

      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 London National avg. Difference
      Haircut $21.46$24.2611.5%
      Beauty Salon $42.47$45.566.8%
      Toothpaste $3.69$3.700.4%
      Shampoo $1.32$1.282.8%
      Movie $12.00$12.131.1%
      Bowling $19.07$18.005.9%

      Groceries

      Item London National avg. Difference
      Ground Beef $5.63$5.843.6%
      Fried Chicken $1.61$1.572.6%
      Milk $4.76$4.671.8%
      Potatoes $5.24$4.936.2%
      Pizza $11.49$12.094.9%
      Beer $10.68$10.412.6%

      Health Care

      Item London National avg. Difference
      Optometrist $65.99$125.6847.5%
      Doctor $117.73$135.7813.3%
      Dentist $89.30$113.2921.2%
      Ibuprofen $10.68$10.650.3%
      Lipitor $475.58$468.601.5%

      Housing

      Item London National avg. Difference
      Home Price $149,200.00$184,700.0019.2%
      Avg. Mortgage Payment $1,862.49$2,346.6920.6%
      Apartment Rent $780.00$949.0017.8%

      Transportation

      Item London National avg. Difference
      Gasoline $3.42$3.461.2%
      Tire Balancing $41.79$59.9230.3%

      Utilities

      Item London National avg. Difference
      All Electricity $182.76$193.995.8%
      Phone $186.03$192.253.2%
      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.
      South Solon, OH4188713.4%
      South Charleston, OH1,8068713.1%
      Derby, OH5438415.7%
      Mechanicsburg, OH1,9218515.3%
      Midway, OH3008515.2%
      London, OH10,241919.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Belle Chasse, LA10,24111312.5%
      Canandaigua, NY10,241991.3%
      Doraville, GA10,2441076.6%
      Sumner, WA10,24613333.5%
      Shasta Lake, CA10,23511211.7%
      London, OH10,241919.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.