Montrose-Ghent 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.
IndexMontrose-GhentOhioNational
Cost of living index12091100
IndexMontrose-GhentOhioNational
Goods & Services index8899100
Groceries index118101100
Health care index8895100
Housing index17575100
Transportation index102101100
Utilities index9691100
A general overview of the cost of living index for Montrose-Ghent, OH is displayed above. In Montrose-Ghent, OH, the overall cost of living index is 120, which is 32% higher than the Ohio average and 20% 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 Montrose-Ghent, OH, the city's goods and services are 11% lower than the Ohio average and 12% lower than the U.S. average.

Did you know?

  • The cost of living in Montrose-Ghent is 32% higher than the Ohio average.
  • The cost of living in Montrose-Ghent is 20% higher than the national average.
  • The cost of housing in Montrose-Ghent is 75% 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 Montrose-Ghent, OH Cost of living To Other Cities

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Use the salary calculator to compare your current salary in Montrose-Ghent, 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 Montrose-Ghent, OH, then you would need to earn more income in order to maintain the same standard of living. To use the Montrose-Ghent, 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$126,538$10,545$2,952$3,797
Renters$31,641$2,637$738$949
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Montrose-Ghent, OH, as well as what the average cost of living is. 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 payment and not more than 36 percent of income on all expenses and debts. In Montrose-Ghent, OH homeowners have a median income of $126,538. Using that number, you will come up with a maximum of $2,952 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $31,641, which means there is a maximum of $738 to be spent on the costs of renting a home or apartment.

Ohio Sales Tax

StateGeneral Sales TaxWith Max Surtax
Ohio5.75%8%

Ohio Income Tax

StateIncome Tax (Low)Income Tax (High)
Ohio0.528%5.333%
One thing to keep in mind when considering the cost of living in Montrose-Ghent, OH is the Ohio sales tax and Ohio income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Ohio sales tax rate is 5.75% and the maximum surtax that can be charged is 8%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Ohio income tax rates range from 0.528% to 5.333%.

Goods & Services

ItemMontrose-GhentNational avg.Difference
Haircut $14.27$15.568.3%
Beauty Salon $32.93$36.118.8%
Toothpaste $2.86$2.4715.8%
Shampoo $1.05$0.968.8%
Movie $10.60$10.134.7%
Bowling $3.51$4.7425.8%

Groceries

ItemMontrose-GhentNational avg.Difference
Ground Beef $3.89$3.982.4%
Fried Chicken $1.94$1.4138.1%
Milk $2.80$2.0635.7%
Potatoes $3.99$2.9833.8%
Pizza $8.99$9.475.1%
Beer $7.99$8.799.1%

Health Care

ItemMontrose-GhentNational avg.Difference
Optometrist $72.82$101.0427.9%
Doctor $83.27$107.4422.5%
Dentist $73.07$90.4219.2%
Ibuprofen $11.27$9.2821.5%
Lipitor $442.27$426.503.7%

Housing

ItemMontrose-GhentNational avg.Difference
Home Price $297,900.00$175,700.0069.6%
Avg. Mortgage Payment $1,414.65$1,133.2324.8%
Apartment Rent $1,742.00$920.0089.3%

Transportation

ItemMontrose-GhentNational avg.Difference
Gasoline $2.12$1.996.2%
Tire Balancing $42.96$45.766.1%

Utilities

ItemMontrose-GhentNational avg.Difference
All Electricity$147.80$163.819.8%
Phone $29.99$28.395.6%
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.
Sawyerwood, OH1,21582-18%
Twinsburg Heights, OH93984-16%
Akron, OH198,49284-16%
Barberton, OH26,37584-16%
Sterling, OH63185-15%
Montrose-Ghent, OH4,87612020%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hutchinson Island South, FL4,87711313%
Windsor Heights, IA4,87794-6%
Goodland, KS4,87980-20%
Zapata, TX4,87367-33%
Plantation CDP, FL4,8731099%
Montrose-Ghent, OH4,87612020%
Source: The Montrose-Ghent, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.