Low cost of living
Compared with the rest of the nation, Ohio has a competitive cost of living, a stable below-national average for the state's major metropolitan areas. Coupled with reasonably priced housing and relatively statewide income distribution, Ohio's regions all offer a competitive alternative to higher-cost coastal markets and distinct benefits in comparison to similarly ranked states.
With an average cost of living index for all primary Ohio cities at 95.4 on a U.S. scale of 100, Ohio ranks 19th among the 50 states and fifth among a 16-state cohort. Ohio cost of living is lower than in most Midwestern states with the exception of Kentucky and Indiana, and is nearly 35 percent less than California's average and 23 percent less than Massachusetts.
At $118,956 in 2003, Ohio's median home value is approximately $28,000 less than the national average – almost 72 percent of households are homeowners. Median gross rent during the same year was 16.7 percent of median household income, ranking Ohio 14th in the nation and fifth among benchmark states.
Ohio's low cost of living means the median four-person family income of $66,000 – slightly above the national median of $65,000 – simply goes further within the state than most of the rest of the country. With Ohio's big-city amenities, professionals get competitive compensation in a metropolitan atmosphere without a big-city dent to salaries.
