Beachwood, OH

Very High · 130

Ohio · Population 13,850 · Updated March 2026

$1,941
Median Rent / Month
$102,798
Median Income
$381,600
Median Home Value
$1,887
Owner Costs / Month

Affordability

How far your income goes in Beachwood

22.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Ohio

State-level tax rates that affect your costs

3.5%
Income Tax (Top Rate)
5.75%
Sales Tax
1.53%
Property Tax Rate

Estimated Annual Costs

$23,292
Annual Rent
$3,598
State Income Tax
$5,838
Property Tax (est.)

Cost of Living Overview

Beachwood has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 130 (where 100 equals the national median), Beachwood residents can expect to pay median rent of $1,941/month while earning a median household income of $102,798/year.

The median home value in Beachwood, OH is $381,600, with typical monthly owner costs around $1,887 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Ohio has a moderate income tax rate of 3.5%. Combined with a 5.75% sales tax rate and 1.53% effective property tax rate, the overall tax environment is a factor in the total cost of living in Beachwood.

Frequently Asked Questions

Common questions about living costs in Beachwood

What is the cost of living in Beachwood, OH?
The cost of living index in Beachwood, OH is 130 (US average = 100). Median monthly rent is $1,941, median household income is $102,798/year, and the median home value is $381,600.
Is Beachwood, OH affordable?
No, Beachwood is more expensive than the national average with a cost index of 130. The rent-to-income ratio is 22.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Beachwood, OH?
The median gross rent in Beachwood, OH is $1,941 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,292.
What is the median household income in Beachwood?
The median household income in Beachwood, OH is $102,798 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Ohio?
Ohio has a top income tax rate of 3.5%, a sales tax of 5.75%, and an effective property tax rate of 1.53%.