Cost Of Living In Powell, OH

Powell 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.
Index	Powell	Ohio	National
Cost of living index	125	91	100
Index	Powell	Ohio	National
Goods & Services index	99	99	100
Groceries index	94	101	100
Health care index	95	95	100
Housing index	194	75	100
Transportation index	96	101	100
Utilities index	87	91	100

A general summary of the cost of living index in Powell, OH is shown above. Compared to the state average of Ohio the cost of living index in Powell, OH is 125, which is 37% higher than the average in Ohio and compared to the national average it is 25% 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 Powell, OH goods and services come in at 1% lower than the average in Ohio and are 2% lower than compared to the nationwide average.

Did you know?

The cost of living in Powell is 37% higher than the Ohio average.
The cost of living in Powell is 25% higher than the national average.
The cost of housing in Powell is 94% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in Powell, OH to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Powell, OH, you have to earn a higher income in order to still have the same standard of living. To operate the Powell, OH salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$141,587	$11,799	$3,303	$4,248
Renters	$56,750	$4,729	$1,324	$1,703

One can approximate the cost of living and the housing affordability in Powell, OH by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Powell, OH have a median income of $141,587. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,303 per month to avoid calamity and poverty. The renters in the city have an income of about $56,750, which would make their monthly maximum allowable rental costs $1,324.

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	0.528%	5.333%

When assessing the complete cost of living in Powell, OH, the Ohio income tax and the Ohio sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Ohio maximum surtax is 8%, and the Ohio sales tax is 5.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.528% to 5.333% in Ohio.

Goods & Services

Item	Powell	National avg.	Difference
Haircut	$12.12	$15.56	22.2%
Beauty Salon	$32.80	$36.11	9.2%
Toothpaste	$1.93	$2.47	21.8%
Shampoo	$0.80	$0.96	17.1%
Movie	$9.59	$10.13	5.3%
Bowling	$4.18	$4.74	11.7%

Groceries

Item	Powell	National avg.	Difference
Ground Beef	$3.81	$3.98	4.3%
Fried Chicken	$1.28	$1.41	9.0%
Milk	$1.73	$2.06	16.2%
Potatoes	$2.68	$2.98	10.2%
Pizza	$8.99	$9.47	5.1%
Beer	$8.16	$8.79	7.2%

Health Care

Item	Powell	National avg.	Difference
Optometrist	$54.39	$101.04	46.2%
Doctor	$96.85	$107.44	9.9%
Dentist	$92.19	$90.42	2.0%
Ibuprofen	$8.22	$9.28	11.5%
Lipitor	$431.97	$426.50	1.3%

Housing

Item	Powell	National avg.	Difference
Home Price	$335,800.00	$175,700.00	91.1%
Avg. Mortgage Payment	$782.25	$1,133.23	31.0%
Apartment Rent	$1,856.00	$920.00	101.7%

Transportation

Item	Powell	National avg.	Difference
Gasoline	$1.97	$1.99	1.0%
Tire Balancing	$41.58	$45.76	9.1%

Utilities

Item	Powell	National avg.	Difference
All Electricity	$128.45	$163.81	21.6%
Phone	$27.99	$28.39	1.4%

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, State	Population	Cost of Living Index	National Avg.
Kilbourne, OH	138	79	-21%
Magnetic Springs, OH	250	84	-16%
Whitehall, OH	18,383	85	-15%
Radnor, OH	220	85	-15%
Lincoln Village, OH	8,994	85	-15%
Powell, OH	12,012	125	25%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Speedway, IN	12,012	83	-17%
Pontiac, IL	12,012	86	-14%
Holiday City-Berkeley, NJ	12,013	104	4%
Freehold, NJ	12,018	122	22%
Maryville, MO	12,018	87	-13%
Powell, OH	12,012	125	25%

Source: The Powell, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Powell, OH Cost of Living