| Index | Solon | Ohio | National |
| Cost of living | 114 | 89 | 100 |
| Groceries | 97 | 97 | 100 |
| Health care | 98 | 96 | 100 |
| Housing | 156 | 74 | 100 |
| Transportation | 95 | 96 | 100 |
| Utilities | 93 | 96 | 100 |
| Lifestyle & Entertainment | 93 | 95 | 100 |
| Household Items | 97 | 97 | 100 |
| Education & Childcare | 96 | 93 | 100 |
Getting a feel for the cost of living in Solon is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Solon is 114, which is 14% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Housing costs significantly influence the Solon cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 56.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Solon 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 Solon is 68.4% higher than the national average, while the average monthly rent prices are 28.2% higher than average. The affordability of any location can also be influenced by median income levels. Solon has a median household income of $172,517, which is 112.1% higher than the national average.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, 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. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
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 Solon, the utilities index stands at 6.6% lower than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The cost of living data for Solon shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $195,992 | $16,333 | $4,573 | $5,880 |
| Renters | $73,028 | $6,086 | $1,704 | $2,191 |
| State | General Sales Tax | With Max Surtax |
| Ohio | 5.75% | 8% |
| State | Income Tax (Low) | Income Tax (High) |
| Ohio | 2.76% | 3.99% |
| City | Population | Cost of Living Index | National Avg. |
| East Cleveland, OH | 17,563 | 80 | 20.2% |
| Kinsman Center, OH | 674 | 82 | 18.1% |
| Highland Hills, OH | 782 | 82 | 18.0% |
| Cleveland, OH | 391,340 | 81 | 18.9% |
| Bainbridge village, OH | 756 | 82 | 17.8% |
| Solon, OH | 23,652 | 114 | 13.9% |
| City | Population | Cost of Living Index | National Avg. |
| Radcliff, KY | 23,674 | 90 | 9.5% |
| L'Assomption, QC | 23,628 | n/a | |
| Crystal, MN | 23,618 | 105 | 4.8% |
| Kihei, HI | 23,616 | 176 | 75.8% |
| Dickinson, ND | 23,614 | 104 | 4.4% |
| Solon, OH | 23,652 | 114 | 13.9% |
Here are the best places to live in Ohio
Check out the 10 most dangerous cities in Ohio
Most Dangerous Cities In The US
See the best places to live in Solon