| Index | Toledo | Ohio | National |
| Cost of living | 83 | 89 | 100 |
| Groceries | 99 | 97 | 100 |
| Health care | 94 | 96 | 100 |
| Housing | 56 | 74 | 100 |
| Transportation | 92 | 96 | 100 |
| Utilities | 95 | 96 | 100 |
| Lifestyle & Entertainment | 90 | 95 | 100 |
| Household Items | 94 | 97 | 100 |
| Education & Childcare | 97 | 93 | 100 |
The cost of living in Toledo affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Toledo is 83, which is 17% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, 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 Toledo stands out by reporting housing costs that are 44.2% 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.
Nobody knows their city better than the people who actually live there. So, we asked 41 local residents how they would rate the cost of living in Toledo and this is how they responded. 46% of people said that the cost of living was affordable, with prices decreasing, while 54% of people said that the cost of living was very expensive and prices continue to rise.
Is Toledo 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 Toledo, for instance, where the median home price falls 53.9% lower than the national average, and monthly rent rates are 21.5% lower than usual. Additionally, median income levels contribute to the equation, with Toledo flaunting a median household income of $59,402, 27% lower than the national norm.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Toledo, the groceries index is 1.4% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Toledo, the healthcare costs are 6.3% lower than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Toledo, the prevailing sales tax rate starts at 5.75%, and income tax rates kick off at 2.76%.
The Toledo cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| 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 | $82,632 | $6,886 | $1,928 | $2,479 |
| Renters | $39,792 | $3,316 | $928 | $1,194 |
| 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. |
| Harbor View, OH | 159 | 95 | 5.5% |
| Williston, OH | 434 | 81 | 19.4% |
| Stony Ridge, OH | 617 | 82 | 17.8% |
| Walbridge, OH | 3,214 | 84 | 15.7% |
| Luna Pier, MI | 1,158 | 84 | 15.6% |
| Toledo, OH | 281,644 | 83 | 17.1% |
| City | Population | Cost of Living Index | National Avg. |
| Saskatoon, SK | 281,340 | n/a | |
| Irvine, CA | 280,132 | 208 | 108.4% |
| Durham, NC | 285,434 | 109 | 9.4% |
| Chula Vista, CA | 274,613 | 159 | 59.2% |
| Fort Wayne, IN | 274,188 | 90 | 10.5% |
| Toledo, OH | 281,644 | 83 | 17.1% |
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