The Average Cost of Living in Ohio - National Cash Offer

The Average Cost of Living in Ohio

 In Blog, Tips for Real Estate

One of the most difficult aspects of moving to a new state is often adjusting to the new cost of living. In some cases, it might be much lower than you are used to. In other cases, unfortunately, it can be drastically higher than what you are accustomed to. From housing costs and utilities to transportation and food costs, you might be surprised at how much basic expenses can change from place to place.

If you are planning on moving to Ohio, here’s what you can expect your average living expenses to be.

 

 

Housing Costs

Of course, your largest expense is likely to be your rent. Fortunately, if you plan on moving to Ohio, housing costs tend to be pretty low — even in the capital, Columbus.

If you are looking for a studio apartment in Columbus, Ohio, you can expect rent to be in the $600 – $1000 range with the average studio being closer to the former. Meanwhile, one-bedroom apartments tend to be in the  $800 – $1200 range.

 

If you are looking to buy instead of rent, the average home price in Columbus is approximately $152,000, according to Zillow.

MIT’s living wage calculator indicates that a single adult should expect to spend nearly $7,200 on housing per year while a family with two adults and one child should expect to spend closer to $10,800.

Overall, Ohio definitely tends to offer favorable housing costs compared to most of the country.

 

 

Utilities

Utilities can be a fairly significant expense — particularly for larger families. Gas, electricity, and water can add up quickly.

In Ohio, utility costs tend to be close to the national average, if not a bit more expensive. According to bestplaces.net the average cost of heating or cooling a home in Columbus, Ohio, including electricity, natural gas, and other fuels, is $102 per month. This is compared to the national average of $100 per month.

 

 

Food

Food costs in Ohio tend to be lower than the national average; however, not by a significant margin.

MIT’s living wage calculator indicates that a single adult can expect to spend approximately $3,050 on food every year. Moreover, two adults with one child can expect to spend more than twice that at nearly $7,000 per year.

 

 

Transportation

When it comes to transportation, there are only a couple of options no matter where you live: drive, take public transportation, or walk/ride a bike. As the latter is free, most people are primarily concerned with the price of gas vs. public transport.

Gas prices in Ohio are just about average when compared with the rest of the country. At approximately $2.27 per gallon, according to GasBuddy, Ohio gas prices aren’t particularly cheap, but not too bad either.

 

Meanwhile, public transport in Columbus consists primarily of buses. COTA, or the Central Ohio Transit Authority, provides buses that take passengers throughout the greater Columbus region for $2 per trip or $4.50 per day.

These, of course, are just the basic living expenses that everyone is subject to. Everyone’s circumstances are different; however, this should give you a good idea of how much it costs to live in Ohio.

 

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