In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
The above illustration supplies generalized information for the Toledo, OH cost of living index. Compared to other cities in Ohio and cities across the country, the cost of living index in Toledo, OH is 87, which is 4% lower than the Ohio average and 13% 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 Toledo, OH are 13% higher than the average for Ohio and 12% higher than the rest of the country.
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The cost of living in Toledo is 4% lower than the Ohio average.
The cost of living in Toledo is 13% lower than the national average.
The cost of housing in Toledo is 50% lower than the national average.
Ohio general sales tax is 13% higher than the national average.
Ohio state income tax is 78% lower than the national average.
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
Using the salary calculator lets you compare the salary you earn in Toledo, OH to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Toledo, OH, you have to earn a higher income in order to still have the same standard of living. To operate the Toledo, OH salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.
Median Income & Debt-To-Income Ratio
Median Income
Per Year
Per Month
Max Budget (28% DTI)
Max Budget (36% DTI)
Owners
$50,318
$4,193
$1,174
$1,510
Renters
$21,416
$1,785
$500
$643
If you want to find a good determining factor for the cost of living and the general affordability of housing in Toledo, OH, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Toledo, OH, the median monthly income is $50,318 for those who own their own homes. Under the standard rule, that income level would allow for $1,174 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $21,416, per the median income in the area. That would allow for renters to spend up to $500 on monthly rental expenses.
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
0.5%
5%
When assessing the complete cost of living in Toledo, OH, the Ohio income tax and the Ohio sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Ohio maximum surtax is 8%, and the Ohio sales tax is 5.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.5% to 5% in Ohio.
Goods & Services
Item
Toledo
National avg.
Difference
Haircut
$16.25
$16.09
1.0%
Beauty Salon
$33.05
$37.33
11.5%
Toothpaste
$2.06
$2.45
15.7%
Shampoo
$0.87
$1.00
12.7%
Movie
$10.06
$10.28
2.1%
Bowling
$5.59
$4.93
13.3%
Groceries
Item
Toledo
National avg.
Difference
Ground Beef
$3.56
$3.80
6.5%
Fried Chicken
$1.45
$1.40
4.0%
Milk
$1.31
$2.01
34.6%
Potatoes
$3.35
$3.01
11.2%
Pizza
$11.70
$9.89
18.3%
Beer
$8.17
$8.90
8.1%
Health Care
Item
Toledo
National avg.
Difference
Optometrist
$85.42
$102.16
16.4%
Doctor
$94.69
$108.36
12.6%
Dentist
$106.56
$92.53
15.2%
Ibuprofen
$9.38
$9.28
1.1%
Lipitor
$437.97
$425.82
2.9%
Housing
Item
Toledo
National avg.
Difference
Home Price
$77,800.00
$184,700.00
57.9%
Avg. Mortgage Payment
$1,115.53
$1,202.44
7.2%
Apartment Rent
$651.00
$949.00
31.4%
Transportation
Item
Toledo
National avg.
Difference
Gasoline
$2.25
$2.24
0.1%
Tire Balancing
$43.37
$46.29
6.3%
Utilities
Item
Toledo
National avg.
Difference
All Electricity
$124.40
$165.96
25.0%
Phone
$31.33
$28.68
9.2%
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.
