| Index | Amherst | Ohio | National |
| Cost of living | 93 | 89 | 100 |
| Groceries | 95 | 97 | 100 |
| Health care | 94 | 96 | 100 |
| Housing | 88 | 74 | 100 |
| Transportation | 97 | 96 | 100 |
| Utilities | 95 | 96 | 100 |
| Lifestyle & Entertainment | 97 | 95 | 100 |
| Household Items | 95 | 97 | 100 |
| Education & Childcare | 94 | 93 | 100 |
Getting a feel for the cost of living in Amherst 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 Amherst is 93, which is 7% 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 Amherst, daily expenses such as food, housing, lifestyle expenses, 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 Amherst will resemble that of an average city, contributing to a manageable cost of living.
Is Amherst 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 Amherst, the median home price is 9.1% lower than the national average and monthly rent prices are 18.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Amherst boasting a median household income of $115,540, 42.1% higher than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Amherst, healthcare costs are 6.1% lower than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Amherst, is 12% lower than the national average.
The cost of living estimates displayed for Amherst are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $131,518 | $10,960 | $3,069 | $3,946 |
| Renters | $48,323 | $4,027 | $1,127 | $1,450 |
| State | General Sales Tax | With Max Surtax |
| Ohio | 5.75% | 8% |
| State | Income Tax (Low) | Income Tax (High) |
| Ohio | 2.76% | 3.99% |
| City | Population | Cost of Living Index | National Avg. |
| Beulah Beach, OH | 13 | 95 | 4.8% |
| Eaton Estates, OH | 1,234 | 83 | 17.1% |
| Lorain, OH | 66,173 | 84 | 15.7% |
| Kipton, OH | 200 | 84 | 15.6% |
| Elyria, OH | 55,802 | 86 | 14.1% |
| Amherst, OH | 12,470 | 93 | 7.0% |
| City | Population | Cost of Living Index | National Avg. |
| Cloquet, MN | 12,471 | 97 | 3.2% |
| Platteville, WI | 12,471 | 92 | 7.8% |
| Lewisburg, TN | 12,475 | 90 | 10.3% |
| Durham, NH | 12,464 | 127 | 26.8% |
| North Merrick, NY | 12,464 | 160 | 59.8% |
| Amherst, OH | 12,470 | 93 | 7.0% |
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