Did you know that in 2020, Ohio ranked in the top five moving destinations?
Should you live in Ohio? Maybe you have a job opportunity or family nearby, and so you’re thinking about making the move.
But whatever the reason, you’ll need to consider the cost of living in Ohio.
Don’t worry—we did the research for you. Here are the categories that factor into the cost of living in Ohio.
Housing Costs in Ohio
When deciding whether moving to Ohio is a good idea, it’s important to think about whether you can afford it.
Luckily, the cost of living in Ohio is less than the national average. The average home in the United States costs $204,900, but in Ohio, the average home costs $140,000. That’s $64,900 less than the national average.
Homes built before 1940 usually cost even less, making housing in Ohio fairly affordable.
If you’re looking to rent an apartment, you should know that the average apartment rent in Ohio is $788. Considering that the national average rent is $1,023, that’s a pretty good deal.
You can rent an apartment with one bedroom for just $615 a month. Compare that to someplace like New York City, where a single-bedroom apartment can cost over $3,000 a month.
Housing costs are also different based on where you decide to live. If you’re wondering where to live in Ohio, local realtors like Duffy Team Realtors can help you find the most affordable location for you.
Ohio Transportation Costs
BestPlaces ranks Ohio at 83.9 for transportation on the cost of living index.
100 is the national average, so an 83.9 means that the cost of transportation in Ohio is lower than the national average.
Factors like gas prices, train and bus fare, and insurance costs all play a part in Ohio’s low transportation costs.
Cost of Property Taxes
Surprisingly, property taxes in Ohio are actually more expensive than the national average.
Nationwide, homeowners pay an average of 1.07% in property taxes. In Ohio, homeowners pay an average of 1.48%.
So if you own a home with a value of $250,000, you will end up paying approximately $3,700 per year in property taxes.
Cost of Moving
Of course, the cost of living in Ohio isn’t just a combination of housing, transportation, and property taxes. It’s also the cost of moving.
The cost of moving can be either expensive or affordable, based on how you go through the home search process. You should hunt for the most affordable realtors, moving companies, and travel options.
Overall Cost of Living in Ohio
On the whole, the cost of living in Ohio is less than the national average. Even with higher property taxes, it costs less to live in Ohio than in many other states.
If cost is a major factor as you think about where to move, Ohio might be a good option for you.
You may also be wondering if there are things to do in Ohio. If you’re looking for tips on how to build a great life in a new state, check out our Lifestyle category!
