Beachwood cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBeachwoodOhioNational
Cost of living index12191100
IndexBeachwoodOhioNational
Goods & Services index10596100
Groceries index10799100
Health care index11496100
Housing index16275100
Transportation index9795100
Utilities index100101100
A general overview of the cost of living index for Beachwood, OH is displayed above. In Beachwood, OH, the overall cost of living index is 121, which is 34% higher than the Ohio average and 21% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Beachwood, OH, the city's goods and services are 9% higher than the Ohio average and 5% higher than the U.S. average.

Did you know?

  • The cost of living in Beachwood is 34% higher than the Ohio average.
  • The cost of living in Beachwood is 21% higher than the national average.
  • The cost of housing in Beachwood is 62% higher than the national average.
  • Ohio general sales tax is 13% higher than the national average.
  • Ohio state income tax is 76% lower than the national average.

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Compare Beachwood, OH Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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The salary calculator allows you to compare how much your current salary in Beachwood, OH would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Beachwood, OH, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Beachwood, OH salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$109,122$9,094$2,546$3,274
Renters$49,545$4,129$1,156$1,486
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Beachwood, OH as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Beachwood, OH homeowners, is $109,122. This would allow for a maximum of $2,546 per month to be spent on housing costs. For renters, the median monthly income is $49,545 which would result in a maximum of $1,156 to be spent on rental costs.

Ohio Sales Tax

StateGeneral Sales TaxWith Max Surtax
Ohio5.75%8%

Ohio Income Tax

StateIncome Tax (Low)Income Tax (High)
Ohio0.528%5.333%
The Ohio sales tax and Ohio income tax rates should definitely be considered when determining the overall cost of living in Beachwood, OH. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Ohio sales tax is 5.75% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Ohio income tax rates range from 0.528% to 5.333%.

Goods & Services

ItemBeachwoodNational avg.Difference
Haircut $17.45$14.5919.6%
Beauty Salon $41.75$34.6820.4%
Toothpaste $2.64$2.476.7%
Shampoo $1.03$1.020.8%
Movie $10.15$9.872.9%
Bowling $4.29$4.392.3%

Groceries

ItemBeachwoodNational avg.Difference
Ground Beef $4.86$4.488.6%
Fried Chicken $1.54$1.465.2%
Milk $2.69$2.3614.1%
Potatoes $2.79$3.068.9%
Pizza $11.00$9.2419.0%
Beer $7.99$8.637.4%

Health Care

ItemBeachwoodNational avg.Difference
Optometrist $84.74$99.7815.1%
Doctor $115.50$105.0310.0%
Dentist $115.00$88.7029.6%
Ibuprofen $11.07$9.4117.6%
Lipitor $302.96$298.501.5%

Housing

ItemBeachwoodNational avg.Difference
Home Price $274,800.00$175,700.0056.4%
Avg. Mortgage Payment $1,001.84$1,081.037.3%
Apartment Rent $1,599.00$920.0073.8%

Transportation

ItemBeachwoodNational avg.Difference
Gasoline $1.99$2.094.9%
Tire Balancing $45.52$45.290.5%

Utilities

ItemBeachwoodNational avg.Difference
All Electricity$165.58$170.803.1%
Phone $29.58$28.264.7%
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, StatePopulationCost of Living IndexNational Avg.
East Cleveland, OH17,61986-14%
Highland Hills, OH99987-13%
Cleveland, OH392,11488-12%
Linndale, OH19088-12%
Newburgh Heights, OH2,00089-11%
Beachwood, OH11,85512121%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Florida City, FL11,85396-4%
Portland, TN11,85388-12%
Wells Branch, TX11,85295-5%
Fernandina Beach, FL11,85111515%
Kemp Mill, MD11,85013232%
Beachwood, OH11,85512121%
Source: The Beachwood, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.