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You might not put Ohio at the top of your list when thinking about ideal places to live, but don’t discount Columbus. It’s an accommodating and friendly city full of food, culture and fun. All the amenities are there for any seasoned city dweller, but it’s also a perfect spot for families and those just heading out into the world.
The cost of living in Columbus is 11.1 percent below the national average and also significantly below the state average, making it one of the least expensive cities in the state.
If you’re ready to investigate Columbus’ potential for your next place of residence, check out how the cost of living really breaks down and what your estimated monthly costs might look like.
Housing costs in Columbus
Although prices are rising, housing costs in Columbus are pretty accessible. Overall, housing is 20.5 percent below the national average. This aligns with other Ohio cities, which, even with a higher overall cost of living, still keep housing prices on the lower end. Columbus is almost even with Cincinnati in this area, and it’s less than a percentage point below Dayton.
This percentage puts Columbus rent and housing prices in a good place for those seeking a new apartment. The average one-bedroom is up 9 percent since last year but is only about $1,300 per month. For a two-bedroom apartment, prices are up 3 percent, with the average monthly rent being $1,470. These prices are relatively similar to Columbus’ housing cost partner, Cincinnati, where a one-bed apartment has an average price of $1,390.
If home ownership is on your to-do list, the median sale price in Columbus is $253,000 up about 6 percent over last year.
Apartment hunting in Columbus
Even with median rent prices leaning toward the more reasonable side of one’s budget, you’ll find a lot of variety in cost when looking at different neighborhoods. What’s nice though is that there are popular Columbus communities at almost every price point.
Toward the higher end, you’ll find Short North. Far from the most expensive spot (that honor goes to Victorian Village), Short North has an average one-bedroom rent of $1,530. Considered the city’s arts district, and sitting beside Downtown, you’ll find a lot of art galleries, boutiques and lively restaurants.
For rents that stick closer to the average, check out the Arena District and the University District. Also close to Downtown, one-bedroom apartments in the Arena District average out at $1,350. Another vibrant neighborhood, full of bars and restaurants, the Arena District gets its name because Nationwide Arena, home of the local NHL team, is here.
By comparison, one-bedroom apartments in the University District average out to $1,545 per month in monthly rent. This community includes the Ohio State campus and a ton of places that cater to a college population. It’s a busy spot to live in, but with a lot of potential for fun.
Food costs in Columbus
Food is pretty important to Columbus locals, and serving up dishes associated with the area means great food is coming your way. Of course, the area is all about its buckeye candy, but it also has other signature items such as the Ohioana. This hot dog comes with spicy corn relish, sweet corn, pickle relish, jalapeño and celery salt. Yum.
The cost of living in Columbus when it comes to food, is 4.1 percent below the national average. This puts the city in a pretty good place when it comes to your grocery bill. For comparison, Cleveland is almost 10 percent higher with a rate that’s 5.4 percent over the national average.
What this means, when you need to go shopping to stock your fridge and pantry, is that a dozen eggs will cost you $2, while a bunch of bananas will go for $0.58. A loaf of bread will ring up around $4.14, and a box of cereal will cost $4.49.
Utility costs in Columbus
Columbus weather is a bit of a lesson in the extremes. Summers can be long and humid, and very warm, while winters are cold and snowy. Temperatures can vary from the mid-to-high 80s in the summer, down to the low 20s in winter.
What this impacts, besides your need to own a snow shovel, is your gas and electric bills. Overall, the utility costs in Columbus are 6.3 percent below the national average. This is about five percent less than the cost of living index in Cleveland and Dayton. Even with this more affordable rate overall, you’ll still pay an estimated electricity bill of $163.96.
Transportation costs in Columbus
Another perk of living in Columbus is its high bike and walk scores. This means, at least in certain parts, you can rely on your own two feet (or two wheels) to get around town in your new city, reducing your transportation expenses. Columbus’ bike score is 63 and walk score is 61.
The city also has a decent public transportation system. The Central Ohio Transportation Authority, or COTA, operates almost 80 bus lines throughout the area. The single-trip fare is $2, but you can buy a day pass for $4.50 or a 31-day pass for $62.
If you can’t part with your car, Columbus recently got rid of its parking meters in favor of mobile payments. You now pay by plate either through an app or using a kiosk. Expect to pay about $1 per hour.
All combined, the cost of living in Columbus when it comes to transportation is 13.1 percent below the national average. This is exceptionally affordable considering the percentage dropped by 3.8 points over last year.
Healthcare costs in Columbus
In Columbus, one of the most affordable pieces to your cost of living is healthcare. Here, it’s 16.5 percent below the national average, with a 2.9 percent dip over last year. This puts healthcare expenses in Columbus at some of the most affordable in the state. Dayton, for example, has healthcare costs that are 18.2 percent higher.
You can expect to pay an average cost of $117.90, without insurance, to see a doctor in Columbus. For a teeth cleaning, the average cost is $87.63, and an optometrist visit is $60.27. If you have prescription medication, the average monthly cost, without insurance, is $399.60.
Of course, every person’s specific healthcare costs will vary based on personal health, pre-existing conditions and insurance coverage, but understanding what the averages are can help make it easier to estimate an individual budget.
Goods and services costs in Columbus
So many items fit into the goods and services category of the cost of living in Columbus. The easiest way to sum this category up is to think of all the things you budget for that you enjoy doing, but aren’t absolutely necessary. Many goods and services are what you pause doing when money gets tight.
Thankfully, at 5.8 percent below the national average, and at the lower end of costs for Ohio, you should still be able to enjoy most of your extras. This could include your regular trip to the salon ($42.50), a weekly yoga class ($18.60), a ticket to see the latest action flick in theaters ($11.56) or even that six-pack of beer ($10.49) that you’re taking with you to a friend’s house.
Taxes in Columbus
While sales tax varies in Ohio by county, each area starts off paying 5.75 percent, the state rate. In Columbus, there’s an added county tax and a small special tax, bringing the total up to 7.5 percent. This isn’t the highest sales tax in Ohio, as Cleveland wins that award at 8 percent, but it comes close.
What this means for you while you’re shopping is that for every $1,000 you spend, $75 of it goes straight to taxes.
How much do I need to earn to live in Columbus?
If you look at what the experts tell you about crafting a budget, your biggest expense will always be rent. In fact, around 30 percent of your income should go to this one expense each year.
To calculate what that means for someone living in Columbus, let’s assume you’re a single person renting an average one-bedroom apartment at about $1,315 per month. With that number as our starting point, you’d need to make an average salary of $52,600 a year.
This is most certainly doable given that the median household income in Columbus is $54,902. However, if you want more specific numbers for crafting your own budget, make sure to use our rent calculator.
Free things to do in Columbus
Another great thing about Columbus is the city’s ability to offer up unique and fun experiences without costing you a penny. If you do crunch those numbers and realize your budget may be tight for a while, enjoy some free fun in the city, and maybe learn a little something new.
- For some free outdoor fun (and a little exercise) visit Goodale Park in the Victorian Village neighborhood. This 32-acre park is the oldest in the city.
- If you love cartoons, you can get into the Billy Ireland Cartoon Library and Museum for free. This special place is home to the largest comic and cartoon collection in the world.
- Tour the Ohio Statehouse and get a taste of some local history. The building is beautiful both inside and out.
- Stop and smell the roses at the Park of Roses. This public park has around 12,000 roses landscaped into three gardens. You’ll also find perennials and herb gardens within the park’s 13 acres.
There are also a variety of museums with free admission or free admission days on the Ohio State University campus. The Billy Ireland Museum is one, but you can also get free access any time to the Orton Geological Museum and the Wexner Center for the Arts. The downtown area of Columbus also offers a variety of free places to visit including those that explore the arts, local history and culture.
Living in Columbus
So, are you surprised at how much Columbus has to offer at such an affordable cost of living? These aren’t all the city’s important secrets either, and the best way to get to know somewhere like Columbus is to go. Are you ready?
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of November 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Source: rent.com