Cost of living in Akron
Akron, located in the state of Ohio, is a city known for its rich history and vibrant community. Understanding the cost of living in Akron is crucial for both current residents and those considering a move to the city.
This guide provides a detailed breakdown of the various expenses you can expect, from dining and groceries to housing and transportation, helping you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $16 on average, with a range between $15 and $24.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $54, with prices ranging from $45 to $85.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10, with a range between $8.5 and $10.5.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $4 to $5, imported beer $4 to $7, cappuccino $2.5 to $7, and Coke/Pepsi $2 to $2.99.
Grocery Prices
- Milk - Milk is priced between $0.55 and $1.84 per liter, averaging $0.78.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.65 and $5.51, with an average price of $2.62.
- Eggs (Dozen) - A dozen eggs range from $1.39 to $6, averaging $2.31.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.76 to $13.23 per kg, while oranges range from $4.19 to $13.23 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.08 and $8.82 per kg, and lettuce costs $1.25 to $4 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1.25 and $4, with a monthly pass priced at $50.
- Fuel (Gasoline) - Gasoline is priced between $0.71 and $0.97 per liter.
- Taxi Fares - Taxi fares start at $2.5, with a cost of $1.55 to $2.5 per km and $21 to $40 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $850 to $1300, averaging $990.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $700 to $1200, averaging $897.5.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1200 to $2500, averaging $1625.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1200 to $1800, averaging $1650.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $1432 to $1550, averaging $1491.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $1076.39 to $1432, averaging $1254.2.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $110 and $844.55, averaging $199.29.
- Internet - Internet services range from $60 to $115, with an average cost of $83.57.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Akron offers a relatively affordable cost of living compared to larger metropolitan areas. Housing is reasonably priced, especially outside the city centre.
Dining out is affordable, with a variety of options ranging from casual to mid-range restaurants. Grocery prices are competitive, making it easier to manage monthly expenses.
Transportation costs are low, with affordable public transport and gasoline prices. Utilities and internet services are moderately priced, contributing to a balanced monthly budget.
Conclusion
In conclusion, Akron presents a cost-effective living environment with affordable housing, dining, and transportation options. The city's cost of living is manageable, making it an attractive option for individuals and families looking for a balanced lifestyle.
Whether you're planning to move to Akron or are already a resident, understanding these costs can help you make informed financial decisions and enjoy what the city has to offer.