| Index | Springfield | Ohio | National |
| Cost of living | 84 | 89 | 100 |
| Groceries | 96 | 97 | 100 |
| Health care | 99 | 96 | 100 |
| Housing | 54 | 74 | 100 |
| Transportation | 96 | 96 | 100 |
| Utilities | 93 | 96 | 100 |
| Lifestyle & Entertainment | 97 | 95 | 100 |
| Household Items | 98 | 97 | 100 |
| Education & Childcare | 98 | 93 | 100 |
Getting a feel for the cost of living in Springfield 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 Springfield is 84, which is 16% lower 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.
It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Springfield stands out by reporting housing costs that are 45.7% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.
The real experts on a city are its residents. That's why we reached out to 21 locals to get their views on the cost of living in Springfield. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 19% found it budget-friendly with decreasing prices, while 81% said it's simply not affordable as prices have continued to rise.
Is Springfield 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 Springfield, for instance, where the median home price falls 55.7% lower than the national average, and monthly rent rates are 22.4% lower than usual. Additionally, median income levels contribute to the equation, with Springfield flaunting a median household income of $57,525, 29.3% lower than the national norm.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Springfield, the baseline sales tax rate begins at 5.75%, and income tax rates start at 2.76%.
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 Springfield, the transportation index stands at 3.9% lower than the national average.
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 Springfield, the utilities index stands at 7.1% lower than the national average.
The cost of living estimates displayed for Springfield are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $74,732 | $6,228 | $1,744 | $2,242 |
| Renters | $45,241 | $3,770 | $1,056 | $1,357 |
| 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. |
| Highland Holiday, OH | 704 | 79 | 21.1% |
| Christiansburg, OH | 491 | 83 | 16.9% |
| South Solon, OH | 426 | 84 | 16.0% |
| South Charleston, OH | 1,851 | 84 | 15.8% |
| New Carlisle, OH | 5,716 | 84 | 15.9% |
| Springfield, OH | 60,312 | 84 | 16.1% |
| City | Population | Cost of Living Index | National Avg. |
| Kokomo, IN | 60,311 | 86 | 14.4% |
| Mirabel, QC | 60,296 | n/a | |
| Great Falls, MT | 60,209 | 100 | 0.3% |
| Orland Park, IL | 60,161 | 114 | 14.2% |
| Des Plaines, IL | 60,159 | 112 | 12.4% |
| Springfield, OH | 60,312 | 84 | 16.1% |
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