A+
9%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
21%
Housing NAT. AVG.
Search Homes for Sale
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 Vermilion Ohio National
Cost of living9192100
Goods & Services92100100
Groceries101101100
Health care9598100
Housing7973100
Transportation98100100
Utilities10399100

An Overview of Cost of Living in Vermilion, OH

Understanding the cost of living in Vermilion can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Vermilion cost of living index is 91, which is 9% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

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

Is Vermilion Affordable?

Is Vermilion an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Vermilion is 26.3% lower than the national average, while the average monthly rent prices are 8% lower than average. The affordability of any location can also be influenced by median income levels. Vermilion has a median household income of $64,823, which is 17.2% higher than the national average.

What Factors can Influence the Cost of Living in Vermilion?

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Vermilion, is 20.8% lower 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.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The Vermilion 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Vermilion Area
Search Homes for Sale in Vermilion, OH

Cost Of Living Quick Facts

  • The cost of living in Vermilion is 1% lower than the Ohio average
  • The cost of living in Vermilion is 9% lower than the national average
  • Vermilion housing is 21% 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 Vermilion

See all the best places to live around Vermilion

Compare Vermilion, OH Cost of Living

      vs
      How would you rate the cost of living in Vermilion?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Vermilion?
      Write a review to give others more information about this area.
      See all Vermilion poll results

      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$69,551$5,796$1,623$2,087
      Renters$45,840$3,820$1,070$1,375
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Vermilion, OH, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Vermilion homeowners, is $69,551. This would allow for a maximum of $1,623 per month to be spent on housing costs. For renters, the median monthly income is $45,840 which would result in a maximum of $1,070 to be spent on rental 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 Vermilion National avg. Difference
      Haircut $23.67$24.262.5%
      Beauty Salon $35.31$45.5622.5%
      Toothpaste $3.68$3.700.5%
      Shampoo $1.45$1.2813.0%
      Movie $11.60$12.134.4%
      Bowling $18.27$18.001.5%

      Groceries

      Item Vermilion National avg. Difference
      Ground Beef $5.46$5.846.5%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.57$4.672.3%
      Potatoes $5.38$4.939.1%
      Pizza $9.98$12.0917.4%
      Beer $10.51$10.411.0%

      Health Care

      Item Vermilion National avg. Difference
      Optometrist $103.58$125.6817.6%
      Doctor $119.67$135.7811.9%
      Dentist $109.73$113.293.1%
      Ibuprofen $10.73$10.650.7%
      Lipitor $503.65$468.607.5%

      Housing

      Item Vermilion National avg. Difference
      Home Price $136,200.00$184,700.0026.3%
      Avg. Mortgage Payment $1,788.16$2,346.6923.8%
      Apartment Rent $873.00$949.008.0%

      Transportation

      Item Vermilion National avg. Difference
      Gasoline $3.41$3.461.4%
      Tire Balancing $57.76$59.923.6%

      Utilities

      Item Vermilion National avg. Difference
      All Electricity $205.88$193.996.1%
      Phone $186.78$192.252.8%
      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.
      Beulah Beach, OH12963.8%
      Lorain, OH63,8328415.5%
      Kipton, OH1968514.6%
      Elyria, OH53,8448713.4%
      Sheffield Lake, OH9,0018812.3%
      Vermilion, OH10,559918.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ogdensburg, NY10,5599010.2%
      Atchison, KS10,5618416.5%
      Gateway, FL10,55211919.2%
      Marinette, WI10,5668416.0%
      Monroe, WI10,573973.3%
      Vermilion, OH10,559918.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.