Cost of living in Shelby 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 Shelby 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 Shelby is 81, with 100 being the average.
The cost of living index in Shelby is 0.8x lower than the national average.
Shelby ranks as the #12 cheapest in Ohio out of 286.
Shelby ranks as the #290 cheapest out of 6,412 in the US.
The median home value in Shelby is $102,600.
The median income in Shelby is $51,240.
According to the most recent data on the cost of living, Shelby has an overall cost of living index of 81, which is 0.8x lower than the national index of 100.
Compared to Ohio, Shelby has a cost of living index that's 0.9x lower than Ohio's index of 91.
The standard of living in Shelby ranks as #12 most affordable out of the 286 places we measured in Ohio. By definition, that implies Shelby ranks as the #274 most expensive place in the Buckeye State.
For more reading on life in Shelby, check out:
Six factors go into calculating the cost of living index in Shelby. Here is how it fairs on each of the criteria:
The Services index in Shelby is 90.
The Groceries index in Shelby is 105.
The Health index in Shelby is 84.
The Housing index in Shelby is 56.
The Transportation index in Shelby is 93.
The Utilities index in Shelby is 93.
|Living Expense||Shelby||Ohio||National Average|
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 Shelby is $102,600.
The Median Rent in Shelby is $634.
The Median Income in Shelby is $51,240.
The Home Value To Income in Shelby is 2.0x.
The Rent To Monthly Income in Shelby is 0.15x.
|Median Home Value||$102,600||$159,900||$244,900|
|Home Value To Income||2.0x||2.6x||3.5x|
|Rent To Monthly Income||0.15x||0.17x||0.2x|
The cost of living varies in the cities and towns around Shelby. Here's a quick look at the cost of living in the most populous nearby places:
Mansfield, OH has a cost of living index of 80, 1.0x Shelby.
Ashland, OH has a cost of living index of 81, 1.0x Shelby.
Bucyrus, OH has a cost of living index of 82, 1.0x Shelby.