Situated along the Ohio River in Hamilton County, Cincinnati is known for its waterfront real estate, trendy food scene, and bustling business culture. Residents living in Cincinnati enjoy popular attractions such as the Cincinnati Art Museum and the Cincinnati Zoo, major sports teams like the Cincinnati Bengals, a great quality of life, and affordable living.
If you are thinking about moving to the area, you may be curious about the Cincinnati cost of living. It recently ranked the 29th most affordable out of the 100 largest metro areas in the United States. Here’s everything you need to know about the cost of living in Cincinnati Ohio.
What Is the Cost of Living in Cincinnati Ohio?
The Cincinnati cost of living is somewhat lower than the national average. The Cincinnati cost of living index is 97.1 on the C2ER Cost of Living Index, or almost 3% below average. Cincinnati has a Regional Price Parity Index (RPP) of 94.1, which means the cost of goods and services are about 6% below the U.S. average.
Cincinnati Cost of Living vs National Average
The Cincinnati Ohio cost of living is 3-6% below the national average. Groceries, transportation, and healthcare are slightly higher than average, but housing, utilities, and other goods are well below average.
The metropolitan area regional price parity index (MARPP) by the Bureau of Economic Analysis measures the difference in prices across metro areas as a percentage of the overall national price. In Cincinnati, goods are 6.5% more affordable, utilities are 11.8% more affordable, and housing is 14.2% more affordable.
Cincinnati Cost of Living vs Ohio Average
How does the Cincinnati cost of living compare to the cost of living in Ohio? Ohio has the 20th lowest cost of living index according to the C2ER Cost of Living Index for 2024. The Cincinnati cost of living index is 97.1, and the Ohio cost of living index is 94.2.
Groceries, transportation, and healthcare are slightly higher in Cincinnati compared to the state average.
Cincinnati Cost of Living Index
One way to better understand the Cincinnati Ohio cost of living is to take a look at the cost of living index. The Cost of Living Index (COLI) compares the everyday cost of goods and services in a given area to the national average. Many factors affect your cost of living, such as your household size, neighborhood, and lifestyle, but the COLI is a good place to start.
The Cincinnati cost of living index is 97.2. This means that the average cost of living in Cincinnati is 2.8% more affordable than the national average. The Cost of Living for Ohio is 94.2.
Consumer Price Index (CPI)
The BLS Consumer Price Index (CPI) is another metric to help you understand the Cincinnati cost of living. The CPI is the weighted average price of a basket of services and goods in a region, and changes in the CPI track price changes over time. Cincinnati is a part of the Midwest region.
In the Cincinnati area, prices in January 2025 were up 3.4% year-over-year. Food prices increased 2.1%, and energy costs increased 3.9%. The U.S. city average CPI was 317.67 compared to 294.40 in the Midwest area.
Consumer Expenditure Survey
Another great way to assess the Cincinnati cost of living is to take a look at the Consumer Expenditure Survey. This survey measures how people spend their money. For 2022-2023, the average annual household expenditures were $75,172 for the United States. In the Midwest, the average household spent $71,248.
Here’s how the average household income in Cincinnati breaks down:
- Housing: 30.9% ($22,014), compared to the U.S. average of $24,868
- Transportation: 17.1% ($12,213), compared to the U.S. average $12,736
- Food: 12.9% ($9,223) compared to the U.S. average of $9,665
- Healthcare: 9.3% ($6,619) compared to the U.S. average of $6,042
- Entertainment: 5.3% ($3,804) compared to the U.S. average of $3,547
- Education: 2.1% ($1,517) compared to the U.S. average of $1,496
This Cincinnati cost of living comparison tells us that Cincinnati residents have below-average expenses in many categories, particularly housing and food. Cincinnati households spend more on entertainment due to more disposable income.
Family Budget in Cincinnati
According to the Economic Policy Institute‘s Family Budget Calculator, the salary needed to live in Cincinnati is $103,546 for a family of four with two kids and two adults. This comes out to $8,629 per month. Here’s a breakdown of this salary:
- Child care: $1,793
- Health care: $1,418
- Transportation: $1,498
- Housing: $1,195
- Food: $969
- Taxes: $1,028
- Other necessities: $728
Of course, these numbers can go up or down depending on your specific lifestyle. For a single person, the EPI estimates the Cincinnati cost of living at $42,205 per year or $3,517 per month.
Cost of Household Items, Utilities, Gas & Groceries in Cincinnati
The average cost of household items, utilities, gas, and groceries is an important measure of the Cincinnati cost of living. According to Numbeo, these are the prices of common expenses in Cincinnati.
- Steak (1 pound): $7.20
- Milk (1 gallon): $3.02
- Eggs (1 dozen): $2.98
- Bread (1 loaf): $2.88
- Imported beer (12-ounce bottle): $1.80
- McDonald’s meal: $8.00
Bills make up a large share of the average Cincinnati cost of living.
According to Doxo, the average household in Cincinnati pays $2,065 per month in bills. That’s $733 below the national average. The average cost of Cincinnati utilities is $197.10 per month. This includes the average electric bill in Cincinnati of $94.03 and other utility costs.
Drivers pay $2,388 per year on average for full coverage car insurance or $555 per year for minimum coverage. Public transportation in Cincinnati is very affordable, with $4 day passes on Go Metro and $80 30-day passes for travel within the county.
What Is the Average Price of a House in Cincinnati?
For the average household, housing accounts for 30% of the Cincinnati cost of living. Are you thinking about purchasing Cincinnati real estate? You’ll be happy to know that the Cincinnati, OH real estate market is very affordable!
According to Redfin, the Cincinnati average home price is $226,000. This is much lower than the national average of $418,000.
Of course, the Cincinnati cost of living depends on where you live. Here are median home prices in popular neighborhoods in Cincinnati:
- Mt. Airy: $200,000
- Pleasant Ridge: $260,000
- Mt. Washington: $285,000
- Clifton: $310,000
- Evanston: $312,000
- Hyde Park: $452,000
- Mt. Lookout: $663,750
- Oakley: $699,000
What Is the Average Rent in Cincinnati?
Are you looking for apartments for rent in Cincinnati, Ohio? According to Rentcafe, the average rent in Cincinnati is $1,364 per month. Some of the most affordable neighborhoods to rent in include West End Cincinnati ($973), Westwood ($995), and College Hill ($942).
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Here’s average rent in popular neighborhoods to help you understand the Cincinnati cost of living:
- Downtown Cincinnati: $1,737
- Mount Auburn: $1,866
- Mt. Adams: $1,837
- Over-the-Rhine: $1,837
- Walnut Hills: $1,804
- East End: $1,783
- Oakley: $1,558
- Hyde Park: $1,549
- Mount Washington: $1,466
According to the National Low Income Housing Coalition’s Out of Reach Report, an average worker would need to earn an income of $21.02 per hour to afford a two-bedroom apartment in the city without spending more than 30% on rent. This comes out to about $43,720 per year. This is slightly more than the Ohio average of $19.09 per hour ($39,702 per year).
A good way to determine whether you should rent or buy Cincinnati real estate is to calculate the price-to-rent ratio. The higher the price-to-rent ratio, the better the area is for renters. To calculate the price-to-rent ratio, you need to divide the median annual rent by the median home price. For Cincinnati, the equation looks like this:
$226,000 / $16,368 = 13.80
When the ratio is 1 to 15, it’s usually better to buy than rent.
What Is the Average Household Income in Cincinnati Ohio?
According to the United States Census, the median household income in Cincinnati is $51,707. According to PayScale, the average salary in Cincinnati is $75,000 per year. The BLS reports an average annual wage of $61,750 for the Cincinnati metro area.
If you are searching for jobs in Cincinnati, there are many great options to choose from. Cincinnati has the 28th largest economy in the United States and the 5th largest in the Midwest. There are several Fortune 500 companies that are headquartered in Cincinnati, including Procter & Gamble, The Kroger Company, and Fifth Third Bank
Here are just a few of the most common jobs in Cincinnati, along with their average salaries:
- Stockers and order fillers: $39,520
- Fast food and counter workers: $27,970
- General and operation managers: $119,850
- Laborers and freight and material movers: $40,490
- Registered nurses: $85,920
- Customer service representatives: $42,940
- Commercial truck drivers: $57,410
- Nursing assistants: $39,430
- Software developers: $113,020
- Elementary school teachers: $70,110
The average hourly wage in the metro area is $29.69.
What Is a Livable Salary in Ohio?
The MIT Living Wage calculator helps you estimate the salary needed to live in Cincinnati. The living wage for a single adult is $20.77 per hour. For a family of four, the living wage is $39.35 with one working adult or $27.09 with two working adults.
Income, Sales & Property Taxes in Cincinnati
Taxes are an often-overlooked aspect of the Cincinnati cost of living.
Cincinnati property tax was 11.47 mills for 2022. A mill is $1 for each $1,000 of assessed value. The Hamilton County Ohio Auditor is responsible for determining each property’s fair market value and using this value to calculate the property’s assessed value. Read our guide to Hamilton County property taxes to learn more.
The Ohio income tax rate ranges from 2.750% to 3.50%. The amount you pay will depend on your taxable income as well as your residency status.
The Cincinnati sales tax rate is 7.800%. Here’s how this number breaks down:
- Ohio State: 5.750%
- Hamilton County: 2.050%
- Cincinnati: 0.000%
- Total: 7.800%
Ohio has the 20th highest sales tax rate in the country.
Columbus vs Cincinnati Cost of Living
If you are thinking about moving to one of Ohio’s major cities, then you may also be considering Columbus. It is only about 107 miles from Columbus to Cincinnati. But how does the Cincinnati cost of living compare to the cost of living in Columbus?
The Columbus Cost of Living Index is 92.0, which makes it more affordable than Cincinnati. The Cincinnati cost of living index is 97.1. Overall, the two areas are very similar in price.
Request a Free Moving Quote From Bell Moving & Storage
Overall, Cincinnati is a very affordable place to live. The low housing costs and monthly expenses keep the Cincinnati cost of living lower than many other major cities in the Midwest. If you are ready to call Cincinnati home, let the experts at Bell Moving help you! As the best Cincinnati movers, we will do everything we can to make your move simple and stress-free. Give us a call today at (513) 942-7500 to receive a free quote.
