Ravenna 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.
IndexRavennaOhioNational
Cost of living index8891100
IndexRavennaOhioNational
Goods & Services index9196100
Groceries index11499100
Health care index9096100
Housing index6275100
Transportation index10595100
Utilities index102101100
An overview of the general cost of living index for Ravenna, OH is displayed above for your reference. Residents in Ravenna, OH enjoy a cost of living index of 88. This index is 3% lower than the Ohio average, and 12% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Ravenna, OH, the average cost of goods and services is 5% lower than it is in Ohio, and it is 9% lower than the national average.

Did you know?

  • The cost of living in Ravenna is 3% lower than the Ohio average.
  • The cost of living in Ravenna is 12% lower than the national average.
  • The cost of housing in Ravenna is 38% lower 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 Ravenna, OH Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Ravenna, 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 Ravenna, OH, then you would need to earn more income in order to maintain the same standard of living. To use the Ravenna, 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$57,385$4,782$1,339$1,722
Renters$19,223$1,602$449$577
If you want to find a good determining factor for the cost of living and the general affordability of housing in Ravenna, 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 Ravenna, OH, the median monthly income is $57,385 for those who own their own homes. Under the standard rule, that income level would allow for $1,339 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $19,223, per the median income in the area. That would allow for renters to spend up to $449 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 Ravenna, 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

ItemRavennaNational avg.Difference
Haircut $15.00$14.592.8%
Beauty Salon $31.80$34.688.3%
Toothpaste $2.87$2.4716.0%
Shampoo $1.05$1.022.7%
Movie $9.14$9.877.4%
Bowling $3.56$4.3918.9%

Groceries

ItemRavennaNational avg.Difference
Ground Beef $4.07$4.489.1%
Fried Chicken $1.87$1.4627.7%
Milk $2.73$2.3615.8%
Potatoes $3.79$3.0623.8%
Pizza $8.99$9.242.7%
Beer $7.99$8.637.4%

Health Care

ItemRavennaNational avg.Difference
Optometrist $77.20$99.7822.6%
Doctor $85.40$105.0318.7%
Dentist $73.80$88.7016.8%
Ibuprofen $9.43$9.410.2%
Lipitor $332.25$298.5011.3%

Housing

ItemRavennaNational avg.Difference
Home Price $104,300.00$175,700.0040.6%
Avg. Mortgage Payment $1,362.45$1,081.0326.0%
Apartment Rent $634.00$920.0031.1%

Transportation

ItemRavennaNational avg.Difference
Gasoline $2.07$2.091.2%
Tire Balancing $55.99$45.2923.6%

Utilities

ItemRavennaNational avg.Difference
All Electricity$176.87$170.803.6%
Phone $28.01$28.260.9%
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, OH1,21583-17%
Twinsburg Heights, OH93985-15%
Atwater, OH67786-14%
Akron, OH198,49286-14%
Newton Falls, OH4,74078-22%
Ravenna, OH11,63588-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Upper Montclair, NJ11,63717171%
Johnstown, CO11,63911111%
Snoqualmie, WA11,62515050%
Hawaiian Paradise Park, HI11,62314949%
Arlington, TN11,6231077%
Ravenna, OH11,63588-12%
Source: The Ravenna, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.