A+
3%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
10%
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 Tipp City Ohio National
Cost of living9792100
Goods & Services100100100
Groceries101101100
Health care10798100
Housing9073100
Transportation95100100
Utilities10299100

An Overview of Cost of Living in Tipp City, OH

Knowing the cost of living in Tipp City 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 Tipp City stands at 97, marking it 3% lower than the national average.

In Tipp City, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Tipp City will resemble that of an average city, contributing to a manageable cost of living.

Is Tipp City Affordable?

Is Tipp City affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Tipp City, the median home price is 7.2% lower than the national average and monthly rent prices are 16.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Tipp City boasting a median household income of $62,330, 12.7% higher than the national average.

What Factors can Influence the Cost of Living in Tipp City?

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Tipp City, the groceries index is 1.2% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Tipp City, healthcare costs are 6.6% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The Tipp City 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 Tipp City is 6% higher than the Ohio average
  • The cost of living in Tipp City is 3% lower than the national average
  • Tipp City housing is 10% lower than 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 Tipp City

See all the best places to live around Tipp City

Compare Tipp City, 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$82,027$6,836$1,914$2,461
      Renters$41,286$3,441$963$1,239
      The affordability of the housing market in Tipp City, OH as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Tipp City homeowners, the median income is $82,027. This indicates that a monthly maximum of $1,914 should be spent by homeowners on all housing related costs. Renters have a median income of $41,286. This indicates that renters would have a maximum of $963 for their rent related monthly costs.

      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 Tipp City National avg. Difference
      Haircut $21.00$24.2613.4%
      Beauty Salon $43.31$45.564.9%
      Toothpaste $3.57$3.703.5%
      Shampoo $1.30$1.281.5%
      Movie $12.84$12.135.8%
      Bowling $16.32$18.009.3%

      Groceries

      Item Tipp City National avg. Difference
      Ground Beef $6.04$5.843.4%
      Fried Chicken $1.69$1.577.2%
      Milk $4.78$4.672.2%
      Potatoes $5.19$4.935.1%
      Pizza $13.11$12.098.5%
      Beer $10.57$10.411.6%

      Health Care

      Item Tipp City National avg. Difference
      Optometrist $108.50$125.6813.7%
      Doctor $152.25$135.7812.1%
      Dentist $122.07$113.297.7%
      Ibuprofen $10.62$10.650.3%
      Lipitor $511.48$468.609.2%

      Housing

      Item Tipp City National avg. Difference
      Home Price $171,400.00$184,700.007.2%
      Avg. Mortgage Payment $1,810.14$2,346.6922.9%
      Apartment Rent $795.00$949.0016.2%

      Transportation

      Item Tipp City National avg. Difference
      Gasoline $3.24$3.466.3%
      Tire Balancing $58.06$59.923.1%

      Utilities

      Item Tipp City National avg. Difference
      All Electricity $202.76$193.994.5%
      Phone $186.57$192.253.0%
      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.
      Highland Holiday, OH6778218.0%
      Dayton, OH140,4448515.2%
      Trotwood, OH24,4108614.1%
      Casstown, OH2098613.9%
      Christiansburg, OH4818613.7%
      Tipp City, OH10,039972.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Cypress Gardens, FL10,0401011.0%
      Fairmont, MN10,0429010.0%
      Elkhorn, WI10,034955.1%
      The Pinery, CO10,03315555.4%
      Brandon, SD10,0301010.7%
      Tipp City, OH10,039972.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.