Painesville, OH

Very Low · 61

Ohio · Population 20,453 · Updated March 2026

$957
Median Rent / Month
$50,455
Median Income
$151,400
Median Home Value
$965
Owner Costs / Month

Affordability

How far your income goes in Painesville

22.8%
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

$11,484
Annual Rent
$1,766
State Income Tax
$2,316
Property Tax (est.)

Cost of Living Overview

Painesville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 61 (where 100 equals the national median), Painesville residents can expect to pay median rent of $957/month while earning a median household income of $50,455/year.

The median home value in Painesville, OH is $151,400, with typical monthly owner costs around $965 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.8% 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 Painesville.

Frequently Asked Questions

Common questions about living costs in Painesville

What is the cost of living in Painesville, OH?
The cost of living index in Painesville, OH is 61 (US average = 100). Median monthly rent is $957, median household income is $50,455/year, and the median home value is $151,400.
Is Painesville, OH affordable?
Yes, Painesville is more affordable than the national average with a cost index of 61. The rent-to-income ratio is 22.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Painesville, OH?
The median gross rent in Painesville, OH is $957 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,484.
What is the median household income in Painesville?
The median household income in Painesville, OH is $50,455 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%.