A+
14%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
38%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Bedford Ohio National
Cost of living8692100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing6273100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Bedford, OH

Are you thinking about relocating, but curious about the potential cost of living in Bedford? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Bedford stands at 86, making it 14% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Is Bedford Affordable?

Is Bedford 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 Bedford, the median home price is 50.6% lower than the national average and monthly rent prices are 8.5% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Bedford boasting a median household income of $45,945, 16.9% lower than the national average.

What Factors can Influence the Cost of Living in Bedford?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

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 Bedford, the groceries index is 1.1% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Bedford, the utilities index is 2.8% higher than the national average.

Where is the Data From?

The Bedford cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

New Real Estate Listings in Bedford Area
Search Homes for Sale in Bedford, OH

Cost Of Living Quick Facts

  • The cost of living in Bedford is 7% lower than the Ohio average
  • The cost of living in Bedford is 14% lower than the national average
  • Bedford housing is 38% lower than the national average
  • Ohio general sales tax is 13% higher than the national average
  • Ohio state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Bedford

See all the best places to live around Bedford

Compare Bedford, OH Cost of Living

      vs
      How would you rate the cost of living in Bedford?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Bedford?
      Write a review to give others more information about this area.
      See all Bedford poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$56,759$4,730$1,324$1,703
      Renters$40,998$3,417$957$1,230
      A good way to judge both the affordability of the housing and the cost of living in Bedford is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Bedford has a median income of about $56,759 for people who own homes. Based on that number, a maximum of $1,324 should be spent on expenses related to housing. Renters have a slightly different median income, which is $40,998. Based on this average, renters should spend no more than $957 on all rental costs if they want to maintain a non-impoverished standard of living.

      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% 3.99%

      Goods & Services

      Item Bedford National avg. Difference
      Haircut $23.67$24.262.5%
      Beauty Salon $35.31$45.5622.5%
      Toothpaste $3.68$3.700.5%
      Shampoo $1.45$1.2813.0%
      Movie $11.60$12.134.4%
      Bowling $18.27$18.001.5%

      Groceries

      Item Bedford National avg. Difference
      Ground Beef $5.46$5.846.5%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.57$4.672.3%
      Potatoes $5.38$4.939.1%
      Pizza $9.98$12.0917.4%
      Beer $10.51$10.411.0%

      Health Care

      Item Bedford National avg. Difference
      Optometrist $103.58$125.6817.6%
      Doctor $119.67$135.7811.9%
      Dentist $109.73$113.293.1%
      Ibuprofen $10.73$10.650.7%
      Lipitor $503.65$468.607.5%

      Housing

      Item Bedford National avg. Difference
      Home Price $91,200.00$184,700.0050.6%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $868.00$949.008.5%

      Transportation

      Item Bedford National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $57.76$59.923.6%

      Utilities

      Item Bedford National avg. Difference
      All Electricity $205.88$193.996.1%
      Phone $186.78$192.252.8%
      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 Population Cost of Living Index National Avg.
      East Cleveland, OH17,0478020.0%
      Linndale, OH3348217.9%
      Kinsman Center, OH6608217.9%
      Bainbridge village, OH7298217.8%
      Highland Hills, OH7648217.8%
      Bedford, OH12,5558614.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Leeds, AL12,555964.4%
      Grand Terrace, CA12,55913131.3%
      Gulf Shores, AL12,5501066.3%
      Vinings, GA12,54613838.0%
      Georgetown, GA12,545990.6%
      Bedford, OH12,5558614.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.