Richmond Heights, OH

Very Low · 64

Ohio · Population 10,677 · Updated March 2026

$933
Median Rent / Month
$56,734
Median Income
$176,100
Median Home Value
$1,027
Owner Costs / Month

Affordability

How far your income goes in Richmond Heights

19.7%
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

$11,196
Annual Rent
$1,986
State Income Tax
$2,694
Property Tax (est.)

Cost of Living Overview

Richmond Heights is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 64 (where 100 equals the national median), Richmond Heights residents can expect to pay median rent of $933/month while earning a median household income of $56,734/year.

The median home value in Richmond Heights, OH is $176,100, with typical monthly owner costs around $1,027 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.7% 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 Richmond Heights.

Frequently Asked Questions

Common questions about living costs in Richmond Heights

What is the cost of living in Richmond Heights, OH?
The cost of living index in Richmond Heights, OH is 64 (US average = 100). Median monthly rent is $933, median household income is $56,734/year, and the median home value is $176,100.
Is Richmond Heights, OH affordable?
Yes, Richmond Heights is more affordable than the national average with a cost index of 64. The rent-to-income ratio is 19.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Richmond Heights, OH?
The median gross rent in Richmond Heights, OH is $933 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,196.
What is the median household income in Richmond Heights?
The median household income in Richmond Heights, OH is $56,734 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%.