A-
6%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
16%
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 Loveland Ohio National
Cost of living10692100
Goods & Services102100100
Groceries102101100
Health care10398100
Housing11673100
Transportation102100100
Utilities10099100

An Overview of Cost of Living in Loveland, OH

Knowing the cost of living in Loveland allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Loveland stands at 106, marking it 6% higher than the national average.

Everyday expenditures like food, housing, goods and services, transportation and health care in Loveland are priced in a manner consistent with other areas. This means that residents of Loveland can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Loveland Affordable?

Wondering if Loveland is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Loveland, for example, the median home price is 19.2% higher than what folks pay nationally, and monthly rent is 9.6% higher than the usual rates. Plus, income levels matter too, with Loveland boasting a median household income of $69,978, which is 26.5% higher than the national average.

What Factors can Influence the Cost of Living in Loveland?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Loveland, the groceries index is 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 Loveland, the transportation index is 2.4% higher than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The cost of living data in Loveland displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Loveland is 15% higher than the Ohio average
  • The cost of living in Loveland is 6% higher than the national average
  • Loveland housing is 16% higher 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 Loveland

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Compare Loveland, 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$90,990$7,583$2,123$2,730
      Renters$42,179$3,515$984$1,265
      The affordability of the housing market in Loveland, OH as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Loveland homeowners, the median income is $90,990. This indicates that a monthly maximum of $2,123 should be spent by homeowners on all housing related costs. Renters have a median income of $42,179. This indicates that renters would have a maximum of $984 for their rent related monthly costs.

      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 Loveland 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 Loveland 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 Loveland 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 Loveland National avg. Difference
      Home Price $220,100.00$184,700.0019.2%
      Avg. Mortgage Payment $1,993.26$2,346.6915.1%
      Apartment Rent $1,040.00$949.009.6%

      Transportation

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

      Utilities

      Item Loveland 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.
      Plainville, OH1531021.7%
      Dillonvale village, OH6458316.6%
      Elmwood Place, OH2,0718416.4%
      Arlington Heights, OH8278514.7%
      Lincoln Heights, OH3,3598613.8%
      Loveland, OH13,9111066.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Hudson, WI13,9121098.7%
      Pierre, SD13,908937.2%
      Bloomsburg, PA13,916955.3%
      Hazel Crest, IL13,918981.8%
      North Mankato, MN13,9031000.2%
      Loveland, OH13,9111066.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.