A+
5%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
8%
Housing NAT. AVG.
Search Homes for Sale
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 North Olmsted Ohio National
Cost of living9592100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing9273100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in North Olmsted, OH

Understanding the cost of living in North Olmsted can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The North Olmsted cost of living index is 95, which is 5% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in North Olmsted 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. North Olmsted 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 North Olmsted Affordable?

Wondering if North Olmsted 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 North Olmsted, for example, the median home price is 12.7% lower than what folks pay nationally, and monthly rent is 1.7% higher than the usual rates. Plus, income levels matter too, with North Olmsted boasting a median household income of $72,666, which is 31.4% higher than the national average.

What Factors can Influence the Cost of Living in North Olmsted?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In North Olmsted, the groceries index is 1.1% higher than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The North Olmsted 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.

New Real Estate Listings in North Olmsted Area
Search Homes for Sale in North Olmsted, OH

Cost Of Living Quick Facts

  • The cost of living in North Olmsted is 3% higher than the Ohio average
  • The cost of living in North Olmsted is 5% lower than the national average
  • North Olmsted housing is 8% 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 North Olmsted

See all the best places to live around North Olmsted

Compare North Olmsted, OH Cost of Living

      vs
      How would you rate the cost of living in North Olmsted?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in North Olmsted?
      Write a review to give others more information about this area.
      See all North Olmsted poll results

      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$82,064$6,839$1,915$2,462
      Renters$44,063$3,672$1,028$1,322
      A good indicator of the general affordability of housing in North Olmsted, OH, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In North Olmsted, the median monthly income is $82,064 for those who own their own homes. Under the standard rule, that income level would allow for $1,915 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $44,063, per the median income in the area. That would allow for renters to spend up to $1,028 on monthly rental expenses.

      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 North Olmsted 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 North Olmsted 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 North Olmsted 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 North Olmsted National avg. Difference
      Home Price $161,300.00$184,700.0012.7%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $965.00$949.001.7%

      Transportation

      Item North Olmsted National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $57.76$59.923.6%

      Utilities

      Item North Olmsted 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.
      Linndale, OH3348217.9%
      Cleveland, OH383,3318317.4%
      Eaton Estates, OH1,2098317.0%
      Newburgh Heights, OH1,7988316.6%
      Lorain, OH63,8328415.5%
      North Olmsted, OH31,562955.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mundelein, IL31,57411312.8%
      Franklin Square, NY31,53715958.8%
      West Bend, WI31,587991.3%
      Midlothian, TX31,53311413.9%
      Laguna Hills, CA31,61318382.6%
      North Olmsted, OH31,562955.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.