Montgomery 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.
IndexMontgomeryOhioNational
Cost of living index11791100
IndexMontgomeryOhioNational
Goods & Services index9396100
Groceries index9399100
Health care index9596100
Housing index16775100
Transportation index9695100
Utilities index106101100
A general summary of the cost of living index in Montgomery, OH is shown above. Compared to the state average of Ohio the cost of living index in Montgomery, OH is 117, which is 29% higher than the average in Ohio and compared to the national average it is 17% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Montgomery, OH goods and services come in at 3% lower than the average in Ohio and are 7% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Montgomery is 29% higher than the Ohio average.
  • The cost of living in Montgomery is 17% higher than the national average.
  • The cost of housing in Montgomery is 67% 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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Salary Calculator

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Use the salary calculator to compare your current salary in Montgomery, OH to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Montgomery, OH, then you would need to earn more income in order to maintain the same standard of living. To use the Montgomery, OH salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$111,166$9,264$2,594$3,335
Renters$57,625$4,802$1,344$1,729
If you want to find a good determining factor for the cost of living and the general affordability of housing in Montgomery, OH, all you must look at 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 Montgomery, OH, the median monthly income is $111,166 for those who own their own homes. Under the standard rule, that income level would allow for $2,594 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $57,625, per the median income in the area. That would allow for renters to spend up to $1,344 on monthly rental expenses.

Ohio Sales Tax

StateGeneral Sales TaxWith Max Surtax
Ohio5.75%8%

Ohio Income Tax

StateIncome Tax (Low)Income Tax (High)
Ohio0.528%5.333%
When you are determining the total cost of living in Montgomery, OH you will want to make sure you consider both the Ohio sales tax and the Ohio income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Ohio is 5.75%, with the highest surtax being 8%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Ohio have a range from 0.528% to 5.333%.

Goods & Services

ItemMontgomeryNational avg.Difference
Haircut $12.50$14.5914.3%
Beauty Salon $32.61$34.686.0%
Toothpaste $2.54$2.472.7%
Shampoo $0.88$1.0213.9%
Movie $9.72$9.871.5%
Bowling $4.08$4.397.1%

Groceries

ItemMontgomeryNational avg.Difference
Ground Beef $4.21$4.486.0%
Fried Chicken $1.08$1.4626.2%
Milk $1.63$2.3630.8%
Potatoes $3.00$3.062.0%
Pizza $8.19$9.2411.4%
Beer $8.22$8.634.8%

Health Care

ItemMontgomeryNational avg.Difference
Optometrist $90.90$99.788.9%
Doctor $92.83$105.0311.6%
Dentist $83.38$88.706.0%
Ibuprofen $8.10$9.4113.9%
Lipitor $317.61$298.506.4%

Housing

ItemMontgomeryNational avg.Difference
Home Price $304,400.00$175,700.0073.2%
Avg. Mortgage Payment $812.88$1,081.0324.8%
Apartment Rent $1,405.00$920.0052.7%

Transportation

ItemMontgomeryNational avg.Difference
Gasoline $2.03$2.093.1%
Tire Balancing $42.99$45.295.1%

Utilities

ItemMontgomeryNational avg.Difference
All Electricity$202.79$170.8018.7%
Phone $24.99$28.2611.6%
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.
Plainville, OH1196-4%
Brecon, OH25669-31%
Elmwood Place, OH1,88780-20%
Lincoln Heights, OH3,34882-18%
Lockland, OH3,44483-17%
Montgomery, OH10,33211717%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Tamalpais-Homestead Valley, CA10,331219119%
Kendall Park, NJ10,33113232%
Gages Lake, IL10,33011111%
Richmond Hill, GA10,3341044%
Alpena, MI10,33683-17%
Montgomery, OH10,33211717%
Source: The Montgomery, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.