An Overview of Cost of Living in Warren, OH
Understanding the cost of living in Warren can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Warren cost of living index is 81, which is 19% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Warren housing costs are 54.1% less than the national average, making this area an affordable place to live. Your net income can be heavily impacted by housing expenses, at times exceeding 30%. Fortunately, this area demonstrates that both homeownership and renting costs are significantly more budget-friendly than in the rest of the country. With such favorable housing affordability, Warren residents can earmark a more manageable portion of their income to housing.
What Do Locals Say About the Cost of Living in Warren?
Nobody knows their city better than the people who actually live there. So, we asked 10 local residents how they would rate the cost of living in Warren and this is how they responded. 60% of people said that the cost of living was affordable, with prices decreasing, while 40% of people said that the cost of living was very expensive and prices continue to rise.
Is Warren Affordable?
Is Warren an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Warren, the median home price is 64.2% lower than what most folks pay across the country, and monthly rent prices are 30.7% lower than the usual rates. Income levels in Warren come in at $27,108, which is 51% lower than the national average.
What Factors can Influence the Cost of Living in Warren?
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 Warren, the utilities index stands at 2.8% higher than the national average.
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 Warren, the groceries index is 1.1% higher 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 Warren, the healthcare costs are 4.8% lower than the national average.
Where is the Data From?
The Warren cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
Here are the best places to live in Ohio
See the best places to live in & around Warren
10 Best cities in Ohio for employment
Top 10 best public schools in Warren