Beachwood 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.
IndexBeachwoodOhioNational
Cost of living index11791100
IndexBeachwoodOhioNational
Goods & Services index101100100
Groceries index10698100
Health care index10696100
Housing index15373100
Transportation index103102100
Utilities index9491100
A general overview of the cost of living index for Beachwood, OH is displayed above. In Beachwood, OH, the overall cost of living index is 117, which is 29% higher than the Ohio average and 17% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Beachwood, OH, the city's goods and services are 2% higher than the Ohio average and 1% higher than the U.S. average.
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Did you know?

  • The cost of living in Beachwood is 29% higher than the Ohio average.
  • The cost of living in Beachwood is 17% higher than the national average.
  • The cost of housing in Beachwood is 53% higher than the national average.
  • Ohio general sales tax is 13% higher than the national average.
  • Ohio state income tax is 78% lower than the national average.

Compare Beachwood, OH Cost of living To Other Cities

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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
      The salary calculator allows you to compare how much your current salary in Beachwood, OH would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Beachwood, OH, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Beachwood, OH salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$110,165$9,180$2,570$3,305
      Renters$51,650$4,304$1,205$1,550
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Beachwood, OH as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Beachwood, OH homeowners, is $110,165. This would allow for a maximum of $2,570 per month to be spent on housing costs. For renters, the median monthly income is $51,650 which would result in a maximum of $1,205 to be spent on rental costs.

      Ohio Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Ohio5.75%8%

      Ohio Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Ohio0.5%5%
      The Ohio sales tax and Ohio income tax rates should definitely be considered when determining the overall cost of living in Beachwood, OH. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Ohio sales tax is 5.75% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Ohio income tax rates range from 0.5% to 5%.

      Goods & Services

      ItemBeachwoodNational avg.Difference
      Haircut $19.40$17.4910.9%
      Beauty Salon $35.80$38.176.2%
      Toothpaste $2.37$2.322.1%
      Shampoo $1.07$1.015.7%
      Movie $11.26$10.725.0%
      Bowling $15.60$13.8612.5%

      Groceries

      ItemBeachwoodNational avg.Difference
      Ground Beef $4.81$3.9023.3%
      Fried Chicken $1.81$1.4029.7%
      Milk $1.54$1.9621.5%
      Potatoes $3.21$3.180.8%
      Pizza $11.99$10.3915.4%
      Beer $8.28$9.2310.3%

      Health Care

      ItemBeachwoodNational avg.Difference
      Optometrist $85.40$106.3419.7%
      Doctor $117.00$115.251.5%
      Dentist $111.00$98.3812.8%
      Ibuprofen $9.96$9.267.5%
      Lipitor $505.49$466.478.4%

      Housing

      ItemBeachwoodNational avg.Difference
      Home Price $274,400.00$184,700.0048.6%
      Avg. Mortgage Payment $995.65$1,273.3221.8%
      Apartment Rent $1,546.00$949.0062.9%

      Transportation

      ItemBeachwoodNational avg.Difference
      Gasoline $2.83$2.599.1%
      Tire Balancing $46.27$48.905.4%

      Utilities

      ItemBeachwoodNational avg.Difference
      All Electricity$152.39$167.609.1%
      Phone $177.75$163.428.8%
      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.
      East Cleveland, OH17,41383-17%
      Linndale, OH12584-16%
      Highland Hills, OH96784-16%
      Cleveland, OH389,16585-15%
      Newburgh Heights, OH1,86985-15%
      Beachwood, OH11,78611717%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Minooka, IL11,7861055%
      Florham Park, NJ11,78716262%
      Hawaiian Paradise Park, HI11,78714040%
      Dranesville, VA11,79216565%
      Citrus, CA11,78013232%
      Beachwood, OH11,78611717%
      Source: The Beachwood, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.