A+
11%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
36%
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 Riverside Ohio National
Cost of living8992100
Goods & Services100100100
Groceries101101100
Health care10798100
Housing6473100
Transportation95100100
Utilities10299100

An Overview of Cost of Living in Riverside, OH

Getting a feel for the cost of living in Riverside 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 Riverside is 89, which is 11% 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.

Is Riverside Affordable?

Is Riverside affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Riverside, for instance, where the median home price falls 48.1% lower than the national average, and monthly rent rates are 9.2% lower than usual. Additionally, median income levels contribute to the equation, with Riverside flaunting a median household income of $48,486, 12.4% lower than the national norm.

What Factors can Influence the Cost of Living in Riverside?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Riverside starts at 5.75% and the income tax rates start at 0%.

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 Riverside, healthcare costs are 6.6% higher than the national average.

Where is the Data From?

The Riverside 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 Riverside is 3% lower than the Ohio average
  • The cost of living in Riverside is 11% lower than the national average
  • Riverside housing is 36% 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 Riverside

See all the best places to live around Riverside

Compare Riverside, 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$56,574$4,715$1,320$1,697
      Renters$40,925$3,410$955$1,228
      To approximate the cost of living and the housing affordability in Riverside, OH, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Riverside have a median income of $56,574. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,320 per month to avoid calamity and poverty. The renters in the city have an income of about $40,925, which would make their monthly maximum allowable rental costs $955.

      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 Riverside National avg. Difference
      Haircut $21.00$24.2613.4%
      Beauty Salon $43.31$45.564.9%
      Toothpaste $3.57$3.703.5%
      Shampoo $1.30$1.281.5%
      Movie $12.84$12.135.8%
      Bowling $16.32$18.009.3%

      Groceries

      Item Riverside National avg. Difference
      Ground Beef $6.04$5.843.4%
      Fried Chicken $1.69$1.577.2%
      Milk $4.78$4.672.2%
      Potatoes $5.19$4.935.1%
      Pizza $13.11$12.098.5%
      Beer $10.57$10.411.6%

      Health Care

      Item Riverside National avg. Difference
      Optometrist $108.50$125.6813.7%
      Doctor $152.25$135.7812.1%
      Dentist $122.07$113.297.7%
      Ibuprofen $10.62$10.650.3%
      Lipitor $511.48$468.609.2%

      Housing

      Item Riverside National avg. Difference
      Home Price $95,800.00$184,700.0048.1%
      Avg. Mortgage Payment $1,810.14$2,346.6922.9%
      Apartment Rent $862.00$949.009.2%

      Transportation

      Item Riverside National avg. Difference
      Gasoline $3.24$3.466.3%
      Tire Balancing $58.06$59.923.1%

      Utilities

      Item Riverside National avg. Difference
      All Electricity $202.76$193.994.5%
      Phone $186.57$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.
      Centerville village, OH698118.9%
      Drexel, OH2,3208218.4%
      Highland Holiday, OH6778218.0%
      Dayton, OH140,4448515.2%
      Trotwood, OH24,4108614.1%
      Riverside, OH25,1278910.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      South Salt Lake, UT25,1251109.6%
      Balch Springs, TX25,123963.7%
      Bloomingdale, FL25,13211413.6%
      Ridgewood, NJ25,11017978.6%
      North Tustin, CA25,147203102.6%
      Riverside, OH25,1278910.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.