Parma, OH Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Parma, OH Summary

Cost of living in Parma research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Parma is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Ohio, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Parma is 88, with 100 being the average.

  • The cost of living index in Parma is 0.9x lower than the national average.

  • Parma ranks as the #110 cheapest in Ohio out of 286.

  • Parma ranks as the #1,278 cheapest out of 6,412 in the US.

  • The median home value in Parma is $126,100.

  • The median income in Parma is $60,590.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
88
Parma's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Parma, OH?

According to the most recent data on the cost of living, Parma has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.

Compared to Ohio, Parma has a cost of living index that's 1.0x lower than Ohio's index of 91.

The standard of living in Parma ranks as #110 most affordable out of the 286 places we measured in Ohio. By definition, that implies Parma ranks as the #176 most expensive place in the Buckeye State.

For more reading on life in Parma, check out:

110 out of 286
In Ohio
1,278 out of 6,412
In America

Parma Cost Of Living Vs. Ohio

Six factors go into calculating the cost of living index in Parma. Here is how it fairs on each of the criteria:

  • The Services index in Parma is 99.

  • The Groceries index in Parma is 103.

  • The Health index in Parma is 108.

  • The Housing index in Parma is 66.

  • The Transportation index in Parma is 101.

  • The Utilities index in Parma is 93.

Living Expense Parma Ohio National Average
Overall 88 91 100
Services 99 98 100
Groceries 103 101 100
Health 108 95 100
Housing 66 73 100
Transportation 101 98 100
Utilities 93 93 100
For more reading on cost of living around Ohio, check out:
Parma Cost of Living Vs. OH

Parma, OH Housing Cost Breakdown

Housing swings affordability the most between places in Ohio, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Parma is $126,100.

  • The Median Rent in Parma is $916.

  • The Median Income in Parma is $60,590.

  • The Home Value To Income in Parma is 2.1x.

  • The Rent To Monthly Income in Parma is 0.18x.

Statistic Parma Ohio United States
Median Home Value $126,100 $159,900 $244,900
Median Rent $916 $870 $1,163
Median Income $60,590 $61,938 $69,021
Home Value To Income 2.1x 2.6x 3.5x
Rent To Monthly Income 0.18x 0.17x 0.2x
Search Homes For Sale In Parma, OH
$126,100
Median Home Value
$916
Median Rent
$60,590
Median Income

Parma, OH Costs By Category

Detailed Parma Services Costs Vs. Ohio

Item Parma Ohio
Shampoo $1.08 $1.06
Movie $11.87 $10.68
Bowling $16.87 $14.67
Haircut $18.34 $18.62
Beauty Salon $31.4 $39.05

Detailed Parma Groceries Costs Vs. Ohio

Item Parma Ohio
Ground Beef $5.31 $4.22
Fried Chicken $1.83 $1.39
Milk $1.55 $2.05
Potatoes $3.19 $3.29
Pizza $11.49 $10.62
Beer $9.17 $9.38
Toothpaste $2.65 $2.34

Detailed Parma Health Costs Vs. Ohio

Item Parma Ohio
Optometrist $86.0 $108.57
Doctor $121.47 $116.17
Dentist $119.67 $99.13

Detailed Parma Transportation Costs Vs. Ohio

Item Parma Ohio
Gasoline $2.25 $2.22
Tire Balancing $47.56 $50.07

Detailed Parma Utilities Costs Vs. Ohio

Item Parma Ohio
All Electricity $154.37 $167.67
Phone $180.6 $175.64

Parma SnackAbility

8
/10
Overall SnackAbility
Jobs
6/10
Housing
6
Affordability
8.5
Diversity
7
Safety
8
Amenities
9.5
Education
8
Commute
7

Cost Of Living In Cities Around Parma

The cost of living varies in the cities and towns around Parma. Here's a quick look at the cost of living in the most populous nearby places:

  • Strongsville, OH has a cost of living index of 99, 1.1x Parma.

  • Westlake, OH has a cost of living index of 109, 1.2x Parma.

  • North Olmsted, OH has a cost of living index of 96, 1.1x Parma.

City Population Cost Of Living Vs. Parma
Strongsville, OH 46,187 99 1.1x
Westlake, OH 34,049 109 1.2x
North Olmsted, OH 32,371 96 1.1x
North Royalton, OH 31,150 101 1.1x
Shaker Heights, OH 29,197 103 1.2x
Solon, OH 24,070 114 1.3x
Hudson, OH 23,001 124 1.4x
Parma Heights, OH 20,764 88 1.0x
Broadview Heights, OH 19,820 104 1.2x
Brook Park, OH 18,592 92 1.0x

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