Reynoldsburg cost of living index

The above illustration supplies generalized information for the Reynoldsburg, OH cost of living index. Compared to other cities in Ohio and cities across the country, the cost of living index in Reynoldsburg, OH is 91, which is 1% higher than the Ohio average and 9% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Reynoldsburg, OH are 2% lower than the average for Ohio and 3% lower than the rest of the country.

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Salary Calculator

The salary calculator is meant to help you compare your salary in Reynoldsburg, OH to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Reynoldsburg, OH, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Reynoldsburg, OH salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Reynoldsburg, OH, as well as what the average cost of living is. 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 payment and not more than 36 percent of income on all expenses and debts. In Reynoldsburg, OH homeowners have a median income of $76,879. Using that number, you will come up with a maximum of $1,794 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $40,976, which means there is a maximum of $956 to be spent on the costs of renting a home or apartment.

Ohio Sales Tax

Ohio Income Tax

The Ohio sales tax and Ohio income tax rates should definitely be considered when determining the overall cost of living in Reynoldsburg, OH. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Ohio sales tax is 5.75% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Ohio income tax rates range from 0.5% to 5%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Reynoldsburg, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.