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.
A general overview of the cost of living index for Independence, OH is displayed above. In Independence, OH, the overall cost of living index is 107, which is 18% higher than the Ohio average and 7% 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 Independence, OH, the city's goods and services are 7% higher than the Ohio average and 6% higher than the U.S. average.
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Did you know?
The cost of living in Independence is 18% higher than the Ohio average.
The cost of living in Independence is 7% higher than the national average.
The cost of housing in Independence is 9% 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 Independence, OH Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Use the salary calculator to compare your current income in Independence, OH to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Independence, OH, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Independence, OH salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Independence, OH, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Independence, OH has a median income of about $90,081 for people who own homes. Based on that number, a person should spend a maximum of $2,102 on expenses related to housing. Renters have a slightly different median income, which is $44,000. Based on this average, renters should spend no more than $1,027 on all of their rental costs if they want to maintain a non-impoverished standard of living.
Ohio Sales Tax
General Sales Tax
With Max Surtax
Ohio Income Tax
Income Tax (Low)
Income Tax (High)
When assessing the complete cost of living in Independence, OH, the Ohio income tax and the Ohio sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Ohio maximum surtax is 8%, and the Ohio sales tax is 5.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.5% to 5% in Ohio.
Goods & Services
Avg. Mortgage Payment
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.