| Index | Beachwood | Ohio | National |
| Cost of living | 118 | 89 | 100 |
| Groceries | 97 | 97 | 100 |
| Health care | 98 | 96 | 100 |
| Housing | 171 | 74 | 100 |
| Transportation | 95 | 96 | 100 |
| Utilities | 93 | 96 | 100 |
| Lifestyle & Entertainment | 93 | 95 | 100 |
| Household Items | 97 | 97 | 100 |
| Education & Childcare | 96 | 93 | 100 |
Getting a feel for the cost of living in Beachwood 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 Beachwood is 118, which is 18% higher 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.
Housing costs make up a big chunk of the cost of living in Beachwood, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 70.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Beachwood 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 Beachwood, for instance, where the median home price falls 66.3% higher than the national average, and monthly rent rates are 80.7% higher than usual. Additionally, median income levels contribute to the equation, with Beachwood flaunting a median household income of $131,519, 61.7% higher than the national norm.
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 Beachwood, the groceries index is 3% lower than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Beachwood, the transportation index stands at 4.7% lower than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Beachwood, the prevailing sales tax rate starts at 5.75%, and income tax rates kick off at 2.76%.
The cost of living estimates displayed for Beachwood 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.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $172,941 | $14,412 | $4,035 | $5,189 |
| Renters | $96,528 | $8,044 | $2,252 | $2,896 |
| 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. |
| East Cleveland, OH | 17,563 | 80 | 20.2% |
| Linndale, OH | 346 | 81 | 18.5% |
| Kinsman Center, OH | 674 | 82 | 18.1% |
| Highland Hills, OH | 782 | 82 | 18.0% |
| Cleveland, OH | 391,340 | 81 | 18.9% |
| Beachwood, OH | 11,941 | 118 | 18.2% |
| City | Population | Cost of Living Index | National Avg. |
| Los Alamitos, CA | 11,940 | 186 | 86.5% |
| Yeadon, PA | 11,936 | 96 | 3.8% |
| Les Îles-de-la-Madeleine, QC | 11,947 | n/a | |
| Seven Hills, OH | 11,931 | 99 | 1.1% |
| Elwood, NY | 11,955 | 160 | 59.8% |
| Beachwood, OH | 11,941 | 118 | 18.2% |
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