A+
15%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
42%
Housing NAT. AVG.
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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 Euclid Ohio National
Cost of living8592100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing5873100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Euclid, OH

Are you thinking about relocating, but curious about the potential cost of living in Euclid? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Euclid stands at 85, making it 15% 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.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Euclid stands out by reporting housing costs that are 42.4% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

Is Euclid Affordable?

Is Euclid 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 Euclid, for instance, where the median home price falls 54.3% lower than the national average, and monthly rent rates are 14.6% lower than usual. Additionally, median income levels contribute to the equation, with Euclid flaunting a median household income of $40,342, 27.1% lower than the national norm.

What Factors can Influence the Cost of Living in Euclid?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Euclid, the groceries index is 1.1% higher than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Euclid, the housing index is 42.4% lower than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Euclid, the utilities index registers 2.8% higher than the national average.

Where is the Data From?

The cost of living data in Euclid displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Euclid is 8% lower than the Ohio average
  • The cost of living in Euclid is 15% lower than the national average
  • Euclid housing is 42% 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 Euclid

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Compare Euclid, OH Cost of Living

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      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$55,350$4,613$1,291$1,661
      Renters$29,065$2,422$678$872
      A good indicator of the general affordability of housing in Euclid, OH, 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 Euclid, the median monthly income is $55,350 for those who own their own homes. Under the standard rule, that income level would allow for $1,291 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $29,065, per the median income in the area. That would allow for renters to spend up to $678 on monthly rental expenses.

      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 Euclid 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 Euclid 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 Euclid 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 Euclid National avg. Difference
      Home Price $84,500.00$184,700.0054.3%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $810.00$949.0014.6%

      Transportation

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

      Utilities

      Item Euclid 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%
      Euclid, OH46,8618515.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Keller, TX46,88513534.6%
      Salina, KS46,7068712.7%
      Mentor, OH47,075972.7%
      El Dorado Hills, CA47,10717171.0%
      East Honolulu, HI47,132226126.2%
      Euclid, OH46,8618515.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.