A+
5%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
1%
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 Oxford Ohio National
Cost of living9592100
Goods & Services88100100
Groceries96101100
Health care8298100
Housing10173100
Transportation96100100
Utilities10099100

An Overview of Cost of Living in Oxford, OH

Getting a feel for the cost of living in Oxford 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 Oxford is 95, which is 5% 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.

In Oxford, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Oxford will resemble that of an average city, contributing to a manageable cost of living.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Oxford, these goods and services come in at 12.4% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

Is Oxford Affordable?

Is Oxford affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Oxford, for instance, where the median home price falls 5.7% higher than the national average, and monthly rent rates are 11.4% lower than usual. Additionally, median income levels contribute to the equation, with Oxford flaunting a median household income of $39,840, 28% lower than the national norm.

What Factors can Influence the Cost of Living in Oxford?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Oxford, the baseline sales tax rate begins at 5.75%, and income tax rates start at 0%.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Oxford, the housing index is 0.6% higher than the national average.

Where is the Data From?

The Oxford cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Oxford is 3% higher than the Ohio average
  • The cost of living in Oxford is 5% lower than the national average
  • Oxford housing is 1% higher 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 Oxford

See all the best places to live around Oxford

Compare Oxford, OH Cost of Living

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      Salary Calculator

      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$111,429$9,286$2,600$3,343
      Renters$20,400$1,700$476$612
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Oxford, OH, as well as what the overall cost of living might be. 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 payments and not more than 36 percent of income on all expenses and debts. In Oxford, homeowners have a median income of $111,429. Using that number, a maximum of $2,600 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $20,400, which means there is a maximum of $476 to be spent on the costs of renting a home or apartment.

      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 Oxford National avg. Difference
      Haircut $20.00$24.2617.6%
      Beauty Salon $24.17$45.5647.0%
      Toothpaste $3.77$3.701.9%
      Shampoo $1.40$1.289.3%
      Movie $6.66$12.1345.1%
      Bowling $11.00$18.0038.9%

      Groceries

      Item Oxford National avg. Difference
      Ground Beef $5.57$5.844.6%
      Fried Chicken $1.45$1.578.0%
      Milk $4.60$4.671.5%
      Potatoes $4.99$4.931.2%
      Pizza $12.47$12.093.1%
      Beer $10.17$10.412.3%

      Health Care

      Item Oxford National avg. Difference
      Optometrist $62.00$125.6850.7%
      Doctor $102.21$135.7824.7%
      Dentist $91.00$113.2919.7%
      Ibuprofen $10.36$10.652.7%
      Lipitor $482.95$468.603.1%

      Housing

      Item Oxford National avg. Difference
      Home Price $195,200.00$184,700.005.7%
      Avg. Mortgage Payment $1,616.74$2,346.6931.1%
      Apartment Rent $841.00$949.0011.4%

      Transportation

      Item Oxford National avg. Difference
      Gasoline $3.41$3.461.6%
      Tire Balancing $54.17$59.929.6%

      Utilities

      Item Oxford National avg. Difference
      All Electricity $195.81$193.990.9%
      Phone $190.02$192.251.2%
      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.
      Mount Carmel, IN121021.7%
      West Elkton, OH1168514.6%
      College Corner, OH2768119.5%
      Somerville, OH3048119.2%
      West College Corner, IN5058119.1%
      Oxford, OH23,192955.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Copiague, NY23,20013332.8%
      Simpsonville, SC23,2001000.5%
      Clayton, NC23,1791021.9%
      Bluffton, SC23,17612121.3%
      East Hants, NS23,212n/a 
      Oxford, OH23,192955.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.