A+
11%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
27%
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 Parma Heights Ohio National
Cost of living8992100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing7373100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Parma Heights, OH

Are you thinking about relocating, but curious about the potential cost of living in Parma Heights? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Parma Heights stands at 89, making it 11% 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 Parma Heights Affordable?

Is Parma Heights 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 Parma Heights, for instance, where the median home price falls 34.8% lower than the national average, and monthly rent rates are 10.4% lower than usual. Additionally, median income levels contribute to the equation, with Parma Heights flaunting a median household income of $51,328, 7.2% lower than the national norm.

What Factors can Influence the Cost of Living in Parma Heights?

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

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Parma Heights, the transportation index stands at 2% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The Parma Heights 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.

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Cost Of Living Quick Facts

  • The cost of living in Parma Heights is 3% lower than the Ohio average
  • The cost of living in Parma Heights is 11% lower than the national average
  • Parma Heights housing is 27% lower than the national average
  • Ohio general sales tax is 13% higher than the national average
  • Ohio state income tax is 6% higher than the national average

Most Affordable Places to Live in and Around Parma Heights

See all the best places to live around Parma Heights

Compare Parma Heights, 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$67,700$5,642$1,580$2,031
      Renters$32,398$2,700$756$972
      A good indicator of the general affordability of housing in Parma Heights, 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 Parma Heights, the median monthly income is $67,700 for those who own their own homes. Under the standard rule, that income level would allow for $1,580 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $32,398, per the median income in the area. That would allow for renters to spend up to $756 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 2.76% 3.99%

      Goods & Services

      Item Parma Heights 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 Parma Heights 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 Parma Heights 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 Parma Heights National avg. Difference
      Home Price $120,400.00$184,700.0034.8%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $850.00$949.0010.4%

      Transportation

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

      Utilities

      Item Parma Heights 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%
      Highland Hills, OH7648217.8%
      Cleveland, OH383,3318317.4%
      Parma Heights, OH19,9168910.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ennis, TX19,917972.6%
      Lake Zurich, IL19,91212726.9%
      Sand Springs, OK19,912909.7%
      Fort Mill, SC19,92011414.4%
      Eastchester, NY19,91116766.8%
      Parma Heights, OH19,9168910.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.