What's the Cost of Living in Cleveland, OH?

Want to know the real cost of living in Cleveland, OH? Let's look at the average cost of living, income, real estate, food, transportation, taxes, and other expenses in Cleveland.

As the largest city on Lake Erie, Cleveland, Ohio, has so many wonderful qualities to offer its residents and visitors. Ranked as the second-most populous city in Ohio, there are many reasons why Cleveland is one of the best places to live in Ohio. 

There is an abundance of fun-filled activities in Cleveland for all types of interests, including the Museum of Contemporary Art, the Rock and Roll Hall of Fame, the USS Cod Submarine Memorial, and of course, the Dawg Pound at FirstEnergy Stadium to see the Cleveland Browns play. 

With mouthwatering restaurants, prime real estate, beautiful scenery by the lake, fun nightlife, interesting museums, and a low cost of living, there really are no reasons not to move to Cleveland. However, you'll need to make sure you know everything about the reality of the cost of living in Cleveland first. 

Moving to any new city can be extremely overwhelming, so knowing everything you can about the city before you move is very important. When making a move, the cost of living difference isn't just the cost of housing, but multiple factors playing into what your monthly, daily, and yearly costs will look like. Let's take a look at the real cost of living in Cleveland, OH, below. 

Here is what you need to know about the cost of living in Cleveland

Cost of Living

Clevelands' cost of living is 6 percent lower than the national average, which will save you a lot of money in the long run, so you will be free to spend that extra cash on anything else you would want. If we look at this percentage a bit closer, housing prices are 17% lower, utilities are 2% lower, transportation is 6% lower, and groceries are 5% higher than the national average. 

Be sure to remember that fixed numbers for the cost of living are just averages and may not be the same for you specifically. The overall cost of living may vary depending on your lifestyle, the location of your home, the size of your family, and many other aspects.

Below are some common cost of living aspects according to PayScale 

While going over the cost of living, remember that transportation, food, utilities, and all other everyday expenses go into the overall cost of living number. Luckily, Cleveland has affordable living, so the everyday expenses will be cheaper than the national average. Ohio, as a whole, is very affordable; check out the cost of living in other cities like Cincinnati. 

Income

The average salary for jobs in Cleveland, Ohio, is $58,892 per year or an hourly rate of $28. Of course, salaries vary depending on your occupation, experience, and other factors. 

As a larger city, there is an abundance of job opportunities and a large opportunity for job growth in many of the companies that call Cleveland home. Some of the top-paying kinds of jobs in Cleveland center around the medical field. These include urologists, anesthesiologists, Cosmetic dermatologists, and more. The city has a diverse economy and is also based on banking, finance, education, manufacturing, sports, and tech. 

If you're looking for something outside of the healthcare sector, there are opportunities in administration and distributive jobs and many manufacturing jobs.

Moving anywhere means finding a job; in Cleveland, you will find a lot of employment options. If you are having a hard time finding the best job for you, there are other cities surrounding this city that may have the perfect opportunity for you. 

Real Estate

The housing costs are 17% lower than the national average in Cleveland. This will save you a lot of money and allow you to spend more on all the best items to fill your house with. 

With a median home price of $373,807 and a median rent price of $1,137, the housing prices are significantly lower than the national average. Keep in mind that the real estate market is subject to change and that prices and listings will vary. If you are interested in moving to Cleveland, working with an experienced real estate agent is recommended.

As a large city, there are about 40 neighborhoods with homes for sale ranging from $3K to $1.7M. At the moment, Cleveland is a seller's market, meaning prices tend to be higher, and homes sell faster. With amazing condos, single-family homes, townhomes, and more, you will find the perfect home for you at the best price.

No matter what you're looking for in a home, you will certainly find the perfect place, and we are happy to help you along the way. 

Food

Grocery prices are the only expense in Cleveland that are higher than the national average, specifically by 5 percent. This means that, on average, you are likely to spend more on groceries than other cities. Although, this again depends on your lifestyle and amount of people living in your household. 

Here are the average prices of common grocery items according to Payscale. 

Check out some of the local favorite restaurants below:

• IL Rione Pizzeria: Open Tuesday through Saturday, locals flock to this restaurant for the best pizzas and salads. 
• ALEA: This restaurant has the best modern, Mediterranean-inspired cuisine. This unique space offers you a delicious meal and the perfect place for a date night. 
• Bright Side: If you are looking for some good American comfort food, this restaurant is for you. It also offers healthy, locally sourced products and meats with meals that include the highest quality ingredients. 

Transportation

Along with most expenses in Cleveland, transportation costs are 6 percent lower than the national average. Gas is about $3.21 per gallon. Although, if that is a bit too high for you, the majority of residents use public transportation as it is the easiest, fastest, and cheapest way to get around the city.

The city has the Regional Transit Authority, which includes rails, buses, and the BRT, all will cost you $2.25 per one-way ticket, and offer stops all around the city. This will make your morning commute much easier and save you a lot of money in the long run. 

As many residents choose not to own a car, as that can become expensive with parking, gas, and upkeep, there are many transportation choices available to you. Along with the Regional Transit Authority, you are welcome to walk, bike, Uber, or taxi around town. 

Luckily, Cleveland is said to be very safe and extremely walkable. This would be the cheapest option for residents, meaning it is very important for you to find a home in the best neighborhood for your lifestyle.

Taxes

The minimum combined 2023 sales tax rate for Cleveland is 8%. This is the total of state, country, and city sales tax rates. This is higher than the overall Ohio sales tax percentage of 5.75%. 

The income tax rates range from 1% for some areas like the Greater Cleveland and Akron area to 3% for other areas like Bedford and Parma Heights. Taxes are often an overlooked expense, as most people mainly focus on real estate, food, and income expenses when deciding to move to a new city.

Although taxes will add up and make up a good percentage of the overall cost of living, this is why it is so important to take everything into account while evaluating the cost of living in a new area. 

Keep in mind that depending on what you do, you may encounter other taxes like vehicle registration fees, business taxes, and more. 

Healthcare

Cleveland healthcare prices are 1% lower than the national average, which doesn't seem like a large difference but can really save you a lot of money in the long run. The city even has its own hospital, the Cleveland Clinic, which is ranked as the No. 2 hospital in the world again by Newsweek's World's Best Hospitals 2023 list. 

This means that not only will you have local access to one of the top-rated hospitals in the world, but there will be an abundance of high-paying job opportunities in the medical sector. 

Ohio, as a whole, spends more money on healthcare than most states, meaning you are more likely to find the best doctors for your specific needs here in Ohio than in most other states. 

Here are some of the average prices for common doctor visits according to Payscale:

It is important to note that prices may vary even more depending on your specific type of insurance plan, where you go, and the service you need. 

FAQ: Cost of living in Cleveland, OH

Here are some commonly asked questions about living in Cleveland, OH.

Is Cleveland, Ohio, expensive to live in?

Many of the daily expenses in Cleveland are significantly lower than the national average, making Cleveland much more affordable than surrounding cities. 

How much does it cost to live comfortably in Cleveland?

According to the Economic Policy Institute, a family of four living in Cleveland must make $74,784 a year to live comfortably.

Is it worth moving to Cleveland?

The city is a great place to live, with a low crime rate and a cheaper cost of living.

Why are people moving to Cleveland?

Many people of all ages are moving to Cleveland and its suburbs for the thriving economy, amazing job opportunities, a huge sports culture, and many fun outdoor recreational opportunities. 

Where is the best place to live in Cleveland, Ohio?

There are many safe and affordable neighborhoods in Cleveland. A couple of the best are Lakewood, Rocky River, Beachwood, and Highland Heights.

Moving to Cleveland - Final Thoughts

Cleveland has many great aspects and opportunities to offer you. Apart from its famous sports teams and passionate fans, it has a variety of delicious local cuisines, lively neighborhoods, and museums. 

Ohio has many amazing cities to pick from, like Columbus, Toledo, and of course, Cleveland. Feel free to learn more about these cities, as there is a lot you should know before moving to a city like Columbus. 

Many people are moving into and around the city to surrounding suburbs for an affordable cost of living, a thriving economy, excellent job opportunities, and more. 

The city really does have it all, no matter your preference or lifestyle; if you are looking for the best places to live in Ohio, this city is definitely one of them. There are many important factors to think over as you plan your move. Make sure you know all the essential information before moving to Ohio. 

If you or anyone you may know is moving to Cleveland, OH, make sure to contact us here so that we can get you in contact with one of our helpful Realty Specialists. Whether you want to live in the city's heart or in the quiet by the lake, we will work hard to ensure you find the perfect home. No matter your budget, lifestyle, or needs, we will make this transition as smooth as possible.