B
4%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
24%
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 Shaker Heights Ohio National
Cost of living10492100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing12473100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Shaker Heights, OH

Getting a feel for the cost of living in Shaker Heights 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 Shaker Heights is 104, which is 4% higher 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.

The cost of living in Shaker Heights closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Shaker Heights can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

When it comes to the cost of living in Shaker Heights, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 23.7% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Shaker Heights Affordable?

Is Shaker Heights an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Shaker Heights, the median home price is 31% higher than what most folks pay across the country, and monthly rent prices are 6.6% higher than the usual rates. Income levels in Shaker Heights come in at $88,635, which is 60.2% higher than the national average.

What Factors can Influence the Cost of Living in Shaker Heights?

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Shaker Heights, the utilities index registers 2.8% higher than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Shaker Heights, the transportation index is 2% lower than the national average.

Where is the Data From?

The cost of living in Shaker Heights, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Shaker Heights is 14% higher than the Ohio average
  • The cost of living in Shaker Heights is 4% higher than the national average
  • Shaker Heights housing is 24% higher 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 Shaker Heights

See all the best places to live around Shaker Heights

Compare Shaker Heights, 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$134,541$11,212$3,139$4,037
      Renters$43,674$3,640$1,019$1,310
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Shaker Heights, 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 Shaker Heights, homeowners have a median income of $134,541. Using that number, a maximum of $3,139 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $43,674, which means there is a maximum of $1,019 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 Shaker Heights 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 Shaker Heights 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 Shaker Heights 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 Shaker Heights National avg. Difference
      Home Price $241,900.00$184,700.0031.0%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $1,012.00$949.006.6%

      Transportation

      Item Shaker Heights National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $57.76$59.923.6%

      Utilities

      Item Shaker Heights 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%
      Bainbridge village, OH7298217.8%
      Highland Hills, OH7648217.8%
      Shaker Heights, OH27,1481044.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Erie, CO27,15714948.5%
      Plum, PA27,137982.3%
      Maywood, CA27,12714040.4%
      Glen Cove, NY27,17215453.9%
      Wilmette, IL27,11416564.9%
      Shaker Heights, OH27,1481044.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.