An Overview of Cost of Living in Mansfield, OH
Are you thinking about relocating, but curious about the potential cost of living in Mansfield? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Mansfield stands at 81, making it 19% 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.
Housing costs often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Mansfield distinguishes itself by reporting housing expenses that are 49.3% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Mansfield can allocate more of their income to housing, enhancing their financial flexibility.
What Do Locals Say About the Cost of Living in Mansfield?
The most insightful perspective on a city comes from its residents. We recently surveyed 8 locals to gauge their perception of the cost of living in Mansfield. The feedback revealed that 63% of respondents found the cost of living to be reasonable, with prices on the decline, while 38% regarded it as notably expensive with prices that continue to rise.
Is Mansfield Affordable?
Wondering if Mansfield is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Mansfield, for example, the median home price is 56.5% lower than what folks pay nationally, and monthly rent is 32.6% lower than the usual rates. Plus, income levels matter too, with Mansfield boasting a median household income of $36,318, which is 34.4% lower than the national average.
What Factors can Influence the Cost of Living in Mansfield?
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Mansfield, the utilities index stands at 4.7% lower than the national average.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Mansfield, healthcare costs are 14.8% lower than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Mansfield, the groceries index is 3.5% higher than the national average.
Where is the Data From?
The Mansfield 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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