A+
9%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
33%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Hamilton Ohio National
Cost of living9192100
Goods & Services102100100
Groceries102101100
Health care10398100
Housing6773100
Transportation102100100
Utilities10099100

An Overview of Cost of Living in Hamilton, OH

Are you thinking about relocating, but curious about the potential cost of living in Hamilton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hamilton stands at 91, making it 9% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Hamilton aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Hamilton residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

What Do Locals Say About the Cost of Living in Hamilton?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 10 locals to understand their opinions on the cost of living in Hamilton. The results indicated that 30% found it reasonably priced with decreasing prices of goods and services, while 70% viewed it as quite expensive, with increasing prices.

Is Hamilton Affordable?

Is Hamilton affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Hamilton, for instance, where the median home price falls 41.5% lower than the national average, and monthly rent rates are 12.6% lower than usual. Additionally, median income levels contribute to the equation, with Hamilton flaunting a median household income of $47,937, 13.3% lower than the national norm.

What Factors can Influence the Cost of Living in Hamilton?

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Hamilton, the groceries index registers 2.4% higher than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Hamilton, the transportation index is 2.4% higher than the national average.

Where is the Data From?

The Hamilton 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Hamilton is 1% lower than the Ohio average
  • The cost of living in Hamilton is 9% lower than the national average
  • Hamilton housing is 33% lower than the national average
  • Ohio general sales tax is 13% higher than the national average
  • Ohio state income tax is 6% higher than the national average

Most Affordable Places to Live in and Around Hamilton

See all the best places to live around Hamilton

Compare Hamilton, OH Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$63,212$5,268$1,475$1,897
      Renters$34,196$2,850$798$1,026
      To approximate the cost of living and the housing affordability in Hamilton, OH, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Hamilton have a median income of $63,212. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,475 per month to avoid calamity and poverty. The renters in the city have an income of about $34,196, which would make their monthly maximum allowable rental costs $798.

      Ohio Sales Tax

      State General Sales Tax With Max Surtax
      Ohio 5.75% 8%

      Ohio Income Tax

      State Income Tax (Low) Income Tax (High)
      Ohio 2.76% 3.99%

      Goods & Services

      Item Hamilton National avg. Difference
      Haircut $25.13$24.263.6%
      Beauty Salon $37.93$45.5616.7%
      Toothpaste $3.60$3.702.7%
      Shampoo $1.27$1.280.6%
      Movie $14.35$12.1318.3%
      Bowling $17.56$18.002.5%

      Groceries

      Item Hamilton National avg. Difference
      Ground Beef $5.91$5.841.2%
      Fried Chicken $1.72$1.579.1%
      Milk $4.80$4.672.7%
      Potatoes $5.05$4.932.3%
      Pizza $11.92$12.091.4%
      Beer $10.63$10.412.1%

      Health Care

      Item Hamilton National avg. Difference
      Optometrist $105.42$125.6816.1%
      Doctor $159.40$135.7817.4%
      Dentist $106.67$113.295.8%
      Ibuprofen $10.68$10.650.3%
      Lipitor $497.02$468.606.1%

      Housing

      Item Hamilton National avg. Difference
      Home Price $108,000.00$184,700.0041.5%
      Avg. Mortgage Payment $1,993.26$2,346.6915.1%
      Apartment Rent $829.00$949.0012.6%

      Transportation

      Item Hamilton National avg. Difference
      Gasoline $3.27$3.465.6%
      Tire Balancing $73.09$59.9222.0%

      Utilities

      Item Hamilton National avg. Difference
      All Electricity $197.10$193.991.6%
      Phone $186.48$192.253.0%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Hooven, OH3268119.1%
      Dillonvale village, OH6458316.6%
      Elmwood Place, OH2,0718416.4%
      New Haven, OH3328515.0%
      New Haven CDP (Huron County), OH2828514.8%
      Hamilton, OH62,162918.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Grand Junction, CO62,2181077.5%
      Doral, FL62,36714039.6%
      Council Bluffs, IA62,3769010.3%
      Chapel Hill, NC61,91212828.5%
      Idaho Falls, ID62,417955.4%
      Hamilton, OH62,162918.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.