A+
11%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
26%
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 Newark Ohio National
Cost of living8992100
Goods & Services94100100
Groceries104101100
Health care8598100
Housing7473100
Transportation90100100
Utilities9599100

An Overview of Cost of Living in Newark, OH

Getting a feel for the cost of living in Newark 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 Newark is 89, which is 11% lower 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.

Is Newark Affordable?

Is Newark affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Newark, the median home price is 29.9% lower than the national average and monthly rent prices are 16.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Newark boasting a median household income of $48,609, 12.1% lower than the national average.

What Factors can Influence the Cost of Living in Newark?

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Newark, the utilities index is 4.7% lower than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Newark, the groceries index is 3.5% higher than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Newark, the housing index is 25.8% lower than the national average.

Where is the Data From?

The Newark cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Newark is 4% lower than the Ohio average
  • The cost of living in Newark is 11% lower than the national average
  • Newark housing is 26% lower than the national average
  • Ohio general sales tax is 13% higher than the national average
  • Ohio state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Newark

See all the best places to live around Newark

Compare Newark, OH Cost of Living

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      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$62,957$5,246$1,469$1,889
      Renters$29,820$2,485$696$895
      To approximate the cost of living and the housing affordability in Newark, OH, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Newark have a median income of $62,957. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,469 per month to avoid calamity and poverty. The renters in the city have an income of about $29,820, which would make their monthly maximum allowable rental costs $696.

      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 0% 3.99%

      Goods & Services

      Item Newark National avg. Difference
      Haircut $21.46$24.2611.5%
      Beauty Salon $42.47$45.566.8%
      Toothpaste $3.69$3.700.4%
      Shampoo $1.32$1.282.8%
      Movie $12.00$12.131.1%
      Bowling $19.07$18.005.9%

      Groceries

      Item Newark National avg. Difference
      Ground Beef $5.63$5.843.6%
      Fried Chicken $1.61$1.572.6%
      Milk $4.76$4.671.8%
      Potatoes $5.24$4.936.2%
      Pizza $11.49$12.094.9%
      Beer $10.68$10.412.6%

      Health Care

      Item Newark National avg. Difference
      Optometrist $65.99$125.6847.5%
      Doctor $117.73$135.7813.3%
      Dentist $89.30$113.2921.2%
      Ibuprofen $10.68$10.650.3%
      Lipitor $475.58$468.601.5%

      Housing

      Item Newark National avg. Difference
      Home Price $129,500.00$184,700.0029.9%
      Avg. Mortgage Payment $1,862.49$2,346.6920.6%
      Apartment Rent $795.00$949.0016.2%

      Transportation

      Item Newark National avg. Difference
      Gasoline $3.42$3.461.2%
      Tire Balancing $41.79$59.9230.3%

      Utilities

      Item Newark National avg. Difference
      All Electricity $182.76$193.995.8%
      Phone $186.03$192.253.2%
      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.
      Brownsville, OH237955.3%
      Bladensburg, OH3537921.1%
      Martinsburg, OH2387920.7%
      Fultonham, OH1818019.9%
      Gratiot, OH2398317.3%
      Newark, OH49,9518911.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Coral Gables, FL49,93718787.3%
      Levittown, PA49,9211109.9%
      Rowland Heights, CA49,91416767.2%
      Lakewood, OH50,002955.5%
      East Hartford, CT50,0361044.2%
      Newark, OH49,9518911.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.