Cost of Living & Housing
AFFORDABLE LOCATION and housing variety
Three great metropolitan areas are in northeastern Ohio within a short drive of one another: Greater Cleveland, Metropolitan Akron and Canton/Stark County. The three areas are recognized nationally for their amenities and exceptional housing stock.
The cost of living in northeastern Ohio compares favorably. As in most cities, communities here have city, state, sales and real estate taxes. However, even with those taxes, the cost of living scale is friendly, according to recent national statistics. For example, in a comparison of major cities across the nation, Cleveland’s cost of living was much lower than New York, Boston, Washington DC, San Diego, Philadelphia, Los Angeles, and Chicago. In fact, residents in the Cleveland area have enjoyed a lower average monthly mortgage payment than residents in 18 other leading major metropolitan areas of the nation.
ACCRA COST OF LIVING INDEX
| METROPOLITAN AREA |
(US AVERAGE = 100) |
| New York (Manhattan) NY |
234.5 |
| Boston MA |
142.5 |
| Philadelphia PA-NJ |
125.5 |
| Washington DC-MD-VA-WV |
125.4 |
| San Diego CA |
121.9 |
| Los Angeles-Long Beach CA |
119.7 |
| Seattle-Bellevue-Everett WA |
115.0 |
| Detroit (Oakland Co.) MI |
113.4 |
| Riverside-San Bernardino CA |
112.4 |
| Pittsburgh PA |
109.5 |
| Portland-Vancouver OR-WA |
108.0 |
| Miami FL |
107.7 |
| Milwaukee-Waukesha WI |
105.4 |
| Cleveland-Lorain-Elyria OH |
104.4 |
| Denver CO |
103.4 |
| Phoenix-Mesa AZ |
103.3 |
| Minneapolis-St. Paul MN |
101.4 |
| Baltimore MD |
100.4 |
| Atlanta GA |
99.5 |
| Dallas TX |
98.9 |
| St. Louis MO-IL |
98.7 |
| Norfolk-VA Beach-Newport News VA-NC |
98.5 |
| Kansas City MO-KS |
97.5 |
| Tampa-St. Petersburg-Clearwater FL |
94.3 |
| Houston TX |
93.8 |
The ACCRA Cost of Living Index measures differences between areas in the cost of consumer goods and services, excluding taxes and nonconsumer expenditures. It is based on 59 items, for which prices are collected quarterly by the chamber of commerce, economic development organization, or some similar organization in each participating urban area. Small differences should not be interpreted as showing any measurable difference, according to ACCRA.
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