Ohio · Population 268,461 · Updated March 2026
How far your income goes in Toledo
State-level tax rates that affect your costs
Toledo is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 52 (where 100 equals the national median), Toledo residents can expect to pay median rent of $880/month while earning a median household income of $47,532/year.
The median home value in Toledo, OH is $107,000, with typical monthly owner costs around $856 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.2% 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 Toledo.
Common questions about living costs in Toledo
Compare the cost of living in Toledo, OH with 299 other major U.S. cities