A
3%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
0%
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 Mentor Ohio National
Cost of living9792100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing10073100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Mentor, OH

Knowing the cost of living in Mentor allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Mentor stands at 97, marking it 3% lower than the national average.

The cost of living in Mentor aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Mentor residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Mentor Affordable?

Is Mentor an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Mentor is 0.6% lower than the national average, while the average monthly rent prices are 0.9% higher than average. The affordability of any location can also be influenced by median income levels. Mentor has a median household income of $73,208, which is 32.3% higher than the national average.

What Factors can Influence the Cost of Living in Mentor?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Mentor, the transportation index is 2% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Mentor comes in at 2.8% 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 Mentor, the housing index is 0.1% lower than the national average.

Where is the Data From?

The Mentor cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Mentor is 6% higher than the Ohio average
  • The cost of living in Mentor is 3% lower than the national average
  • Mentor housing is equal to 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 Mentor

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Compare Mentor, 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$80,788$6,732$1,885$2,424
      Renters$47,066$3,922$1,098$1,412
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Mentor, OH, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Mentor, homeowners have a median income of $80,788. Using that number, a maximum of $1,885 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $47,066, which means there is a maximum of $1,098 to be spent on the costs of renting a home or apartment.

      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 Mentor 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 Mentor 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 Mentor 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 Mentor National avg. Difference
      Home Price $183,600.00$184,700.000.6%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $958.00$949.000.9%

      Transportation

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

      Utilities

      Item Mentor 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%
      Kinsman Center, OH6608217.9%
      Euclid, OH46,8618515.4%
      Fairport Harbor, OH3,0678712.7%
      Painesville, OH19,8178812.1%
      Mentor, OH47,075972.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      El Dorado Hills, CA47,10717171.0%
      East Honolulu, HI47,132226126.2%
      Burleson, TX47,1511088.1%
      Roseville, MI47,160918.7%
      Marana, AZ47,16411717.2%
      Mentor, OH47,075972.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.